Chicago, June 17 – Citigroup Global Markets Holdings Inc. priced $525,000 of autocallable contingent coupon equity-linked securities due June 13, 2023 linked to the performance of the S&P 500 index, 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 annualized rate of 5.5% if the index closes at or above the coupon barrier level, 60% of the initial level, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly valuation date after six months.
At maturity, if the index closes above its initial level, the payout will be par.
Alternatively, investors will receive par if the index never closes below 55% of its initial level at any point during the life of the notes.
If the index is less than its initial level and the index has closed below 55% of its initial level during the life of the notes, investors will be fully exposed to the final return of the index.
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 index: | S&P 500 index
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| Amount: | $525,000
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| Maturity: | June 13, 2023
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| Coupon: | 5.5% annually, payable quarterly if index closes at or above coupon barrier on the corresponding valuation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par if index closes above initial level or index never closes below knock-in level during life of notes; otherwise, full exposure to losses of index
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any quarterly valuation date after six months
|
| Initial level: | 4,701.21
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| Coupon barrier: | 2,820.726; 60% of initial level
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| Final barrier: | 2,585.666; 55% of initial level
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| Pricing date: | Dec. 8, 2021
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| Settlement date: | Dec. 13, 2021
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.85%
|
| Cusip: | 17329UVS7
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