Chicago, May 19 – Citigroup Global Markets Holdings Inc. priced $1.23 million of autocallable contingent coupon equity-linked securities due Dec. 1, 2022 linked to the worst performing of the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 6.45% if each ETF closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any monthly valuation date after six months.
If the notes have not been called and each ETF finishes at or above its initial level, the payout at maturity will be par.
If neither fund ever closes below its 75% initial level during the life of the notes, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $1,230,000
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| Maturity: | Dec. 1, 2022
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| Coupon: | 6.45% annualized rate, payable monthly if each ETF closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par if both funds finish above initial levels; par if neither fund closes below knock-in levels during the life of the note; otherwise, 1% loss for every 1% that the worst performing ETF declines from its initial level
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any monthly valuation date after six months
|
| Initial levels: | $379.12 for Invesco, $455.96 for SPDR
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| Coupon barrier levels: | $284.34 for Invesco, $341.97 for SPDR; 75% of initial levels
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| Knock-in levels: | $284.34 for Invesco, $341.97 for SPDR; 75% of initial levels
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.15%
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| Cusip: | 17329UFH9
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