Chicago, Aug. 8 – Citigroup Global Markets Holdings Inc. priced $1.29 million of autocallable contingent coupon equity-linked securities due Dec. 26, 2024 linked to the worst performing of the stocks of Advanced Micro Devices, Inc., Applied Materials, Inc. and PayPal Holdings, Inc., 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 12% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly observation date after three months.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par.
Investors would alternatively receive par even if the worst performer finishes below 60% of its initial price if at least one of the underlying stocks closes above its initial level.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Autocallable contingent coupon equity-linked securities
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Underlying stocks: | Advanced Micro Devices, Inc., Applied Materials, Inc. and PayPal Holdings, Inc.
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Amount: | $1,289,000
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Maturity: | Dec. 26, 2024
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Coupon: | 12% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period
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Price: | Par
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Payout at maturity: | Par if each stock finishes at or above final barrier price; par if at least one stock closes above its initial level; otherwise, investors will be fully exposed to the losses of the worst performer
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Call: | Automatically at par if each stock closes at or above initial level on any monthly observation date after three months
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Initial share prices: | $135.80 for AMD, $145.01 for Applied Materials, $182.68 for PayPal
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Coupon barrier prices: | $81.48 for AMD, $87.006 for Applied Materials, $109.716 for PayPal; 60% of initial share prices
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Final barrier prices: | $81.48 for AMD, $87.006 for Applied Materials, $109.716 for PayPal; 60% of initial share prices
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Pricing date: | Dec. 20, 2021
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Settlement date: | Dec. 23, 2021
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17329UV40
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