By William Gullotti
Buffalo, N.Y., July 22 – Citigroup Global Markets Holdings Inc. priced $180,000 of market-linked securities due Jan. 6, 2025 – autocallable with fixed percentage buffered downside linked to the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized call premium of 10.5% if the ETF closes at or above its initial level on any annual observation date.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 85% buffer level, in which case investors will lose 1% for every 1% decline of the ETF below the buffer.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
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| Underlying ETF: | KraneShares CSI China Internet ETF
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| Amount: | $180,000
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| Maturity: | Jan. 6, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless ETF falls by more than 15%, in which case 1% loss per 1% decline below buffer level
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| Call: | At par plus an annualized call premium of 10.5% if ETF closes at or above its initial level on any annual observation date
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| Initial level: | $37.09
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| Buffer level: | $31.5265; 85% of initial level
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| Pricing date: | Dec. 30, 2021
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| Settlement date: | Jan. 4
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.725%
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| Cusip: | 17329URU7
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