Chicago, June 23 – Citigroup Global Markets Holdings Inc. priced $879,000 of 0% autocallable securities due Dec. 22, 2022 linked to the worst performing of the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 7.5% if both ETFs close at or above initial levels on any quarterly observation date.
If any ETF declines but each finish at or above final barrier level, 80% of initial level, the payout will be par plus the 7.5% maturity date premium.
If the final level of any ETF is less than its final barrier level, investors will lose 1% for each 1% decline of the lesser performing ETF from its initial level, payable in cash or shares at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
The agent is Citigroup Global Markets Inc.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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Amount: | $879,000
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Maturity: | Dec. 22, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If either ETF declines but each finish at or above final barrier level, par plus 7.5% maturity date premium; otherwise, 1% loss for each 1% decline of worst performing ETF from initial level, payable in shares or cash at the issuer's option
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Call: | Automatically at par plus annualized redemption premium of 7.5% if each ETF closes at or above its initial level on any quarterly observation date
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Initial levels: | $398.01 for QQQ, $470.74 for S&P
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Final barrier levels: | $318.408 for QQQ, $376.592 for S&P; 80% of initial levels
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Equity ratios: | 2.5125 for QQQ, 2.12431 for S&P
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Pricing date: | Dec. 10, 2021
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Settlement date: | Dec. 15, 2021
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328NQ50
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