New Issue: Citi sells $500,000 callable contingent coupon equity notes on S&P, Nasdaq, Russell

By Kiku Steinfeld

Chicago, May 20 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity-linked securities due April 21, 2022 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100-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 7.5% per year if each index closes at or above its coupon barrier level, 85% of its initial level, on each trading day of each corresponding period ending in Jan. 2022 and April 2022.

The notes will be callable in whole at par plus any coupon due on either quarterly call date occurring in January 2022 and April 2022.

If the notes are not redeemed early, the payout will be par plus the final coupon if each index finishes at or above 85% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying indexes:	Russell 2000 index, Nasdaq-100 index, S&P 500 index
Amount:	$500,000
Maturity:	April 21, 2022
Contingent coupon:	7.5% per year, payable quarterly if each index closes at or above its coupon barrier on each trading day of each corresponding quarterly period ending in Jan. 2022 and April 2022
Price:	Par
Payout at maturity:	If all indexes finish at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call option:	Par on either quarterly call date occurring in January 2022 and April 2022
Initial levels:	15,146.92 for Nasdaq, 4,471.37 for S&P, 2,265.654 for Russell
Coupon barrier levels:	12,874.882 for Nasdaq, 3,800.665 for S&P, 1,925.806 for Russell; 85% of initial levels
Barrier levels:	12,874.882 for Nasdaq, 3,800.665 for S&P, 1,925.806 for Russell; 85% of initial levels
Pricing date:	Oct. 15, 2021
Settlement date:	Oct. 20, 2021
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	17329UJG7

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