By Kiku Steinfeld
Chicago, May 31 – Citigroup Global Markets Holdings Inc. priced $496,000 of autocallable contingent coupon equity-linked securities due Nov. 3, 2026 linked to the worst performing of the Energy Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 11.75% if each asset closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that period.
The notes will be called at par on any quarterly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless any asset finishes below 50% of its initial price, in which case investors will be fully exposed to the decline of the least-performing asset.
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 assets: | Energy Select Sector SPDR fund, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $496,000
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| Maturity: | Nov. 3, 2026
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| Coupon: | 11.75% annualized rate, payable quarterly if each asset closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below knock-in level, in which investors will be fully exposed to the decline of the least-performing asset
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| Call: | At par plus coupon if each asset closes at or above initial level on any quarterly call valuation date after one year
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| Initial share prices: | $57.47 for Energy, $106.36 for Oil & Gas
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| Coupon barrier levels: | $43.103 for Energy, $79.770 for Oil & Gas; 75% of initial levels
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| Knock-in levels: | $28.735 for Energy, $53.180 for Oil & Gas; 50% of initial levels
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| Pricing date: | Oct. 29, 2021
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| Settlement date: | Nov. 3, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17329UB83
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