By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $1.34 million of autocallable contingent coupon equity-linked securities due March 3, 2023 linked to the stock performance of Boston Beer Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 10.5% if the stock closes at or above the coupon barrier price, 57% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial share price on any monthly valuation date after six months.
If the notes are not called and the payout at maturity will be par unless the stock finishes below its initial price and ever closed below its 57% final barrier price, in which case investors will be fully exposed to the stock’s decline, payable in shares or cash at the issuer’s option.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Boston Beer Co., Inc.
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| Amount: | $1,338,000
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| Maturity: | March 3, 2023
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| Coupon: | 10.5% annually, payable monthly, if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its initial price and ever closed below its final barrier price, in which case investors will receive 2.21646 shares or cash at the issuer’s option
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date after six months
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| Initial share price: | $451.17
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| Coupon barrier price: | $257.167; 57% of initial level
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| Final barrier price: | $257.167; 57% of initial level
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17328NN20
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