By Kiku Steinfeld
Chicago, Feb. 17 – Citigroup Global Markets Holdings Inc. priced $1.01 million of autocallable contingent coupon equity notes due Sept. 9, 2022 linked to the common stock of Affirm Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a quarterly contingent interest payment at an annual rate of 19.25% if the stock closes at or above its 65% coupon barrier level on the relevant review date. All interest payments will include any previously unpaid coupons for prior quarters.
If the stock closes at or above its initial level on March 3, 2022 or June 3, 2022, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its trigger price, 65% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock, payable in shares or cash at the issuer’s option.
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: | Autocallable contingent coupon equity notes
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| Underlying stock: | Affirm Holdings, Inc.
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| Amount: | $1,005,000
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| Maturity: | Sept. 9, 2022
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| Coupon: | 19.25% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; payments will include any previously unpaid interest for prior quarters
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| Price: | Par
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| Payout at maturity: | Par plus interest payment if stock finishes at or above trigger price; otherwise, exposure to stock’s decline, payable in 10.74691 shares or cash at the issuer’s option
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| Call: | At par plus interest payment if stock finishes at or above initial level on March 3, 2022 or June 3, 2022
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| Initial price: | $93.05
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| Coupon barrier level: | $60.483; 65% of initial price
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| Trigger level: | $60.483; 65% of initial price
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| Pricing date: | Sept. 3
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| Settlement date: | Sept. 9
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| Underwriter: | Citigroup Global Markets Inc
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| Fees: | 1%
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| Cusip: | 17328NWU8
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