New Issue: Citi sells $1.94 million callable equity notes on S&P, Russell

By Kiku Steinfeld

Chicago, Aug. 23 – Citigroup Global Markets Holdings Inc. priced $1.94 million of 5% callable equity-linked securities due July 21, 2023 tied to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Interest is payable monthly.

The notes will be callable at par on any monthly call valuation date after three months.

If the notes are not called and the final level of each index is at least 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the least performing index.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable equity-linked securities
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$1,936,000
Maturity:	July 21, 2023
Contingent coupon:	5% per year, payable monthly
Price:	Par
Payout at maturity:	Par if each index finishes at or above 60% of its initial value; otherwise, 1% loss for every 1% decline of the least performer
Call option:	At par on any monthly call valuation date after three months
Initial levels:	4,577.11 for S&P, 2,096.225 for Russell
Downside threshold levels:	2,746.266 for S&P, 1,257.735 for Russell; 60% of initial levels
Pricing date:	Jan. 18, 2022
Settlement date:	Jan. 21, 2022
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.5%
Cusip:	17329UQY0

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