Chicago, April 14 – Citigroup Global Markets Holdings Inc. priced $40,000 of autocallable phoenix securities due June 7, 2023 linked to the iShares U.S. Medical Devices 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 11.45% if the fund closes at or above its 80% coupon barrier on the related monthly observation date, including any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the fund finishes below the 80% barrier, in which case investors will lose 1% for each 1% decline in the share price from its initial level.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable phoenix securities
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Underlying fund: | iShares U.S. Medical Devices ETF
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Amount: | $40,000
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Maturity: | June 7, 2023
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Coupon: | 11.45% annualized, payable quarterly if the fund closes at or above coupon barrier on the relevant determination date; any previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless the fund finishes below barrier, in which case 1% loss for each 1% decline in share price from initial level
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Call: | At par plus contingent coupon if fund closes at or above initial price on any quarterly valuation date
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Initial share price: | $53.26
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Coupon barrier: | $42.608; 80% of initial price
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Buffer: | $42.608; 80% of initial price
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Pricing date: | May 20, 2022
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Settlement date: | May 25, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330FK91
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