By Kiku Steinfeld
Chicago, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $547,000 of callable contingent coupon equity linked securities due March 28, 2024 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14% paid quarterly if the stock closes at or above its 55% coupon barrier on the related valuation date.
The securities may be called starting Sept. 26, 2022 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the stock ends at or above its 55% final barrier. Otherwise investors will lose 1% for every 1% that the stock declines, payable in shares or cash at the option of the issuer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying stock: | Freeport-McMoRan Inc.
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| Amount: | $547,000
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| Maturity: | March 28, 2024
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| Coupon: | 14% paid quarterly if the stock closes at or above its 55% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above final barrier par; if it ends below final barrier, 19.25669 shares or cash at the option of the issuer
|
| Call: | Starting Sept. 26, 2022 at par and on any subsequent quarterly review date
|
| Initial level: | $51.93
|
| Coupon barrier: | $28.562, 55% of initial level
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| Final barrier: | $28.562, 55% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328N4H8
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