By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable phoenix securities due Aug. 13, 2021 linked to the Invesco QQQ trust, series 1, 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 annual rate of 7.5% if the ETF closes at or above its 65% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the ETF finishes below the 65% barrier, in which case investors will be fully exposed to the share price decline.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying ETF: | Invesco QQQ Trust, series 1
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| Amount: | $5 million
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| Maturity: | Aug. 13, 2021
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| Coupon: | 7.5% annualized, payable each quarter that ETF closes at or above coupon barrier on determination date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the ETF finishes below final barrier, in which full exposure to losses
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| Call: | At par plus contingent coupon if ETF closes at or above initial price on any quarterly valuation date
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| Initial share price: | $261.13
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| Coupon barrier: | $169.735, 65% of initial price
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| Final barrier: | $169.735, 65% of initial price
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| Final price: | Average of closing share prices on five trading days ending Aug. 10, 2021
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.9%
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| Cusip: | 17328WDB1
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