Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $1.79 million of callable contingent coupon equity-linked securities due Oct. 13, 2022 linked to the worst performing of the Financial Select Sector SPDR Fund and the Invesco QQQ Trust, Series 1, 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 13.15% if each ETF closes at or above its coupon barrier level, 80% of its initial level, on the related observation date.
The notes will be callable in whole, at the option of the issuer, at par plus any coupon due on any quarterly valuation date.
If the worst performer finishes at or above 80% of its initial level, the payout at maturity will be par plus any coupon due. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level, payable in either cash or shares at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying funds: | Financial Select Sector SPDR Fund and the Invesco QQQ Trust, Series 1
|
| Amount: | $1,786,000
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| Maturity: | Oct. 13, 2022
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| Contingent coupon: | 13.15% per year, payable quarterly if each fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon if each ETF finishes at or above its final barrier; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level, payable in cash or shares at the option of the issuer
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
|
| Initial levels: | $38.83 for SPDR, $362.97 for Invesco
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| Coupon barrier levels: | $31.064 for SPDR, $290.376 for Invesco; 80% of initial levels
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| Final barrier levels: | $31.064 for SPDR, $290.376 for Invesco; 80% of initial levels
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| Pricing date: | Oct. 7, 2021
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| Settlement date: | Oct. 13, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NA57
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