By Kiku Steinfeld
Chicago, July 5 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked securities due Dec. 27, 2024 linked to 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 pay a contingent quarterly coupon at an annualized rate of 7% if the index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly potential redemption date after one year.
If the notes are not redeemed early, the payout will be par unless the index finishes below its initial level and ever closes below 70% of its initial level, in which case investors will lose 1% for every 1% that the index declines.
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: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | Dec. 27, 2024
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| Contingent coupon: | 7% per year, payable quarterly if the index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below initial level and ever closes below its final barrier level, in which case investors will lose 1% for every 1% that the index declines
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| Call option: | Par plus any coupon due on any quarterly potential redemption date after one year
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| Initial levels: | 4,696.56
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| Coupon barrier level: | 3,287.592; 70% of initial level
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| Barrier level: | 3,287.592; 70% of initial level
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| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17329UWV9
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