By Kiku Steinfeld
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $300,000 of autocallable contingent coupon equity-linked securities due May 5, 2022 linked to the common stock of DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 22% if the stock closes at or above the coupon barrier price, 85% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on Nov. 1, 2021 or Jan. 31, 2022.
If the notes are not called and the final share price is greater than or equal to the 85% buffer price, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the stock price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | DraftKings Inc.
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| Amount: | $300,000
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| Maturity: | May 5, 2022
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| Coupon: | 22% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus coupon if both indexes close above buffer level; otherwise 1% for each 1% decline of worse performing underlier beyond buffer
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on Nov. 1, 2021 or Jan. 31, 2022
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| Initial share price: | $57.46
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| Coupon barrier price: | $48.841, 85% of initial level
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| Buffer price: | $48.841, 85% of initial level
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| Pricing date: | April 30
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| Settlement date: | May 5
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.2%
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| Cusip: | 17329FEH3
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