New Issue: Citi sells $1.67 million callable contingent coupon equity notes on S&P, Russell, Nasdaq

By Kiku Steinfeld

Chicago, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $1.67 million of callable contingent coupon equity-linked securities due Feb. 2, 2027 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, 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 8.3% if each index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.

The notes may be called at the issuer’s discretion at par on any monthly valuation after one year.

If the notes are not called and each index finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying indexes:	Nasdaq-100 index, S&P 500 index, Russell 2000 index
Amount:	$1,671,000
Maturity:	Feb. 2, 2027
Coupon:	8.3% annualized rate, payable monthly if each index closes at or above coupon barrier level, on valuation date for that period
Price:	Par
Payout at maturity:	Par if each index finishes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call:	Callable at the issuer’s discretion at par on any monthly valuation date after one year
Initial levels:	14,454.61 for Nasdaq, 4,431.85 for S&P, 1,968.508 for Russell
Coupon barriers:	10,118.227 for Nasdaq, 3,102.295 for S&P, 1,377.956 for Russell; 70% of initial levels
Final barrier levels:	10,118.227 for Nasdaq, 3,102.295 for S&P, 1,377.956 for Russell; 70% of initial levels
Pricing date:	Jan. 28, 2022
Settlement date:	Feb. 2, 2022
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.125%
Cusip:	17330ABQ4

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