New Issue: Citi sells $1.67 million autocallable contingent coupon equity notes on Alphabet, Amazon

By Taylor Fox

New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.67 million of autocallable contingent coupon equity-linked securities due Oct. 13, 2021 linked to the worst performing of the stocks of Alphabet Inc. and the Amazon.com, 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 plus any previously unpaid coupons at an annual rate of 10% if each stock closes at or above the coupon barrier price, 66% of the initial price, on the valuation date for that quarter.

The notes will be automatically called at par plus the coupon and any previously unpaid coupons if each stock closes at or above its initial price, on any quarterly valuation date other than the final one.

If the notes are not called and each stock finishes at or above final barrier price, 66% of its initial level, the payout at maturity will be par plus the final coupon and any previously unpaid coupons. Otherwise, investors will receive shares of the worst performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Autocallable contingent coupon equity-linked securities
Underlying stocks:	Alphabet Inc. and the Amazon.com, Inc.
Amount:	$1,670,000
Maturity:	Oct. 13, 2021
Coupon:	10% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
Price:	Par of $5,000
Payout at maturity:	Par plus contingent coupon if each stock closes at or above final barrier; otherwise, number of shares of the worst performer equal to the principal amount divided by initial share price of worst performing stock or, at issuer’s option, cash equivalent
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date other than final one
Initial levels:	$1,459.14 for Alphabet and $3,195.69 for Amazon
Coupon barrier levels:	$963.032 for Alphabet and $2,109.155 for Amazon, 66% of initial levels
Final barrier levels:	$963.032 for Alphabet and $2,109.155 for Amazon, 66% of initial levels
Equity ratios:	3.42668 for Alphabet and 1.56461for Amazon
Pricing date:	Oct. 7
Settlement date:	Oct. 13
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	17324X4F4

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