Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $550,000 of callable contingent coupon equity-linked securities due Oct. 2, 2024 linked to the worst performing of the ARK Innovation ETF and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 9.75% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole, at the option of the issuer, at par plus any coupon due on any quarterly valuation date after six months.
If the worst performer finishes at or above 60% of its initial level, the payout at maturity will be par plus any coupon due. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying funds: | ARK Innovation ETF and Energy Select Sector SPDR fund
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| Amount: | $550,000
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| Maturity: | Oct. 2, 2024
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| Contingent coupon: | 9.75% per year, payable monthly if each fund closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon if each ETF finishes at or above its final barrier; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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| Call option: | In whole at par plus any coupon due on any quarterly valuation date after six months
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| Initial levels: | $117.03 for ARK, $52.71 for Energy
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| Coupon barrier levels: | $81.921 for ARK, $36.897 for Energy; 70% of initial levels
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| Final barrier levels: | $70.218 for ARK, $31.626 for Energy; 60% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17329QVF4
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