New Issue: Citigroup sells $320,000 contingent coupon autocalls on four stocks

By Kiku Steinfeld

Chicago, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $320,000 of autocallable contingent coupon equity-linked securities due Jan. 2, 2024 linked to the least performing of the common stocks of Booking Holdings Inc., Marriott International, Inc., Expedia Group, Inc. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above 100% of its initial level on any quarterly call observation date.

The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes are guaranteed by Citigroup Inc.

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:	Booking Holdings Inc., Marriott International, Inc., Expedia Group, Inc. and Southwest Airlines Co.
Amount:	$320,000
Maturity:	Jan. 2, 2024
Coupon:	13.5% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that period
Price:	Par
Payout at maturity:	If each stock finishes at or above trigger level, par plus coupon; otherwise, a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Call:	At par if each stock closes at or above 100% of its initial level on any quarterly call observation date
Initial levels:	$2,100.85 for Bookings, $126.49 for Expedia, $128.61 for Marriott and $46.75 for Southwest
Coupon barrier levels:	$1,470.595 for Bookings, $88.543 for Expedia, $90.027 for Marriott and $32.725 for Southwest; 70% of initial levels
Barrier levels:	$1,050.425 for Bookings, $63.245 for Expedia, $64.305 for Marriott and $23.375 for Southwest; 50% of initial levels
Equity ratios:	0.47600 for Bookings, 7.90576 for Expedia, 7.77545 for Marriott and 21.39037 for Southwest
Pricing date:	Dec. 23
Settlement date:	Dec. 30
Agent:	Citigroup Global Markets Inc.
Fees:	2.5%
Cusip:	17328NBQ0

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