Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $327,000 of callable contingent coupon equity-linked securities due Oct. 4, 2024 linked to the worst performing of the ARK Genomic Revolution ETF and the ARK Innovation ETF, 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 10% if each ETF closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after six months.
If the notes are not redeemed early and the lesser performing ETF declines below the coupon barrier but finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least performing ETF declines from its initial level.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying funds: | ARK Genomic Revolution ETF, ARK Innovation ETF
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| Amount: | $327,000
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| Maturity: | Oct. 4, 2024
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| Contingent coupon: | 10% per year, payable monthly if each fund closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon if each ETF finishes at or above barrier, par; otherwise, investors will lose 1% for every 1% that the least performing ETF declines from its initial level
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after six months
|
| Initial levels: | $74.86 for Genomic, $111.17 for Innovation
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| Coupon barrier levels: | $44.916 for Genomic, $66.702 for Innovation; 60% of initial levels
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| Barrier levels: | $44.916 for Genomic, $66.702 for Innovation; 60% of initial levels
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| Pricing date: | Oct. 1, 2021
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| Settlement date: | Oct. 6, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.85%
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| Cusip: | 17329QZF0
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