Citigroup to sell contingent coupon callables linked to Dow, Russell

By Devika Patel

Knoxville, Tenn., April 9 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due April 22, 2025 linked to the worse performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Global Markets Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 8.85% if each index closes at or above its 60% coupon barrier on the review date for that quarter.

Beginning on April 16, 2021 and ending on Jan. 16, 2025, the notes are callable in whole but not in part at par plus any coupon on any coupon payment date.

The payout at maturity will be par plus the coupon unless either index finishes below its 60% final barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17328VH52) will price on April 16 and settle on April 21.

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