Chicago, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $2.41 million of autocallable contingent coupon equity-linked securities due Dec. 26, 2024 linked to the worst performing of the stocks of Las Vegas Sands Corp., PayPal Holdings, Inc. and Valero Energy Corp., 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 annual rate of 12.85% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly observation date after three months.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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 stocks: | Las Vegas Sands Corp., PayPal Holdings, Inc. and Valero Energy Corp.
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| Amount: | $2,413,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 12.85% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above final barrier price; otherwise, investors will be fully exposed to the losses of the worst performer
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| Call: | Automatically at par if each stock closes at or above initial level on any monthly observation date after three months
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| Initial share prices: | $34.15 for Las Vegas, $182.68 for PayPal, $68.69 for Valero
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| Coupon barrier prices: | $20.49 for Las Vegas, $109.608 for PayPal, $41.214 for Valero; 60% of initial share prices
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| Final barrier prices: | $20.49 for Las Vegas, $109.608 for PayPal, $41.214 for Valero; 60% of initial share prices
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| Pricing date: | Dec. 20, 2021
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| Settlement date: | Dec. 23, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17329UVU2
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