New Issue: Citigroup sells $1.81 million callable contingent coupon equity notes on three ETFs

Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $1.81 million of callable contingent coupon equity-linked securities due April 5, 2023 linked to the worst performing of the SPDR S&P Bank ETF, the SPDR S&P Regional Banking ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent quarterly coupon at an annualized rate of 9% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.

The notes will be callable in whole, at the option of the issuer, at par plus any coupon due on any quarterly valuation date after six months.

If the notes are not redeemed early, the payout will be par plus any final coupon if each ETF finishes at or above 65% of its initial level. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by its initial level or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying funds:	SPDR S&P Bank ETF, the SPDR S&P Regional Banking ETF and the SPDR S&P 500 ETF Trust
Amount:	$1,809,000
Maturity:	April 5, 2023
Contingent coupon:	9% per year, payable quarterly if each fund closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus any coupon if each ETF finishes at or above its final barrier; otherwise, investors will receive a number of shares equal to the worst performer’s equity ratio or cash at the issuer’s option
Call option:	In whole at par plus any coupon due on any quarterly valuation date after six months
Initial levels:	$396.33 for S&P, $51.88 for Bank, $66.34 for Banking
Coupon barrier levels:	$277.431 for S&P, $36.316 for Bank, $46.438 for Banking; 70% of initial levels
Final barrier levels:	$257.615 for S&P, $33.722 for Bank, $43.121 for Banking; 65% of initial levels
Equity ratios:	2.52315 for S&P, 19.27525 for Bank, 15.07386 for Banking
Pricing date:	March 31
Settlement date:	April 6
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.75%
Cusip:	17328NQE1

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