By Kiku Steinfeld
Chicago, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due March 17, 2025 linked to the common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a semiannual coupon of 12% per year if the stock closes at or above its 60% coupon barrier on the related semiannual valuation date.
The securities will be called automatically starting Sept. 12, 2022 at par if the level of the stock is greater than or equal to its initial level and on any subsequent semiannual determination date.
If the stock finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the stock declines, payable in shares or cash at 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.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying stock: | Meta Platforms, Inc.
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| Amount: | $500,000
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| Maturity: | March 17, 2025
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| Coupon: | 12% per year paid semiannually if the stock closes at or above its 60% coupon barrier on the related semiannual valuation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; 1% loss for every 1% that stock declines if it ends below final barrier, 5.03778 shares or cash at option of issuer
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| Call: | Automatically starting Sept. 12, 2022 at par if the level of the stock is greater than or equal to its initial level and on any subsequent semiannual determination date
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| Initial level: | $198.50
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| Coupon barrier: | $119.10, 60% of initial level
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| Final barrier: | $119.10, 60% of initial level
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| Equity ratio: | 5.03778
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| Pricing date: | March 10
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| Settlement date: | March 17
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.15%
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| Cusip: | 17328N5N4
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