By Kiku Steinfeld
Chicago, May 9 – Citigroup Global Markets Holdings Inc. priced $586,000 of callable contingent coupon equity-linked securities due April 4, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 7% if the index closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par on any monthly call valuation date after six months.
If the notes are not redeemed early, the payout will be par unless the index closes below 75% of its initial level during the life of the notes and finishes below its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
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: | Callable contingent coupon equity-linked securities
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Underlying index: | S&P 500 index
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Amount: | $586,000
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Maturity: | April 4, 2023
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Contingent coupon: | 7% per year, paid monthly if the index closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless the index closes below 75% of its initial level during the life of the notes and finishes below its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level
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Call option: | In whole at par on any monthly call valuation date after six months
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Initial level: | 4,307.54
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Coupon barrier level: | 3,230.655, 75% of initial level
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Barrier level: | 3,230.655, 75% of initial level
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Pricing date: | Sept. 30, 2021
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Settlement date: | Oct. 5, 2021
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.9%
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Cusip: | 17329QMC1
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