New Issue: Citi sells $590,000 autocallable contingent coupon equity notes on four stocks

By Taylor Fox

New York, March 17 – Citigroup Global Markets Holdings Inc. priced $590,000 of autocallable contingent coupon equity-linked securities due March 8, 2024 linked to the worst performing of the stocks of Beyond Meat, Inc., Chewy, Inc., Schlumberger Ltd. and Wayfair, Inc., 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 plus any previously unpaid coupons at an annual rate of 26.5% if each stock closes at or above the coupon barrier price, 50% of the initial price, on the valuation date for that period.

The notes will be automatically called at par if each stock closes at or above its initial price, on any monthly valuation date after three months.

If the notes are not called and each stock finishes at or above final barrier price, 50% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the worst performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Autocallable contingent coupon equity-linked securities
Underlying stocks:	Beyond Meat, Inc., Chewy, Inc., Schlumberger Ltd. and Wayfair, Inc.
Amount:	$590,000
Maturity:	March 8, 2024
Coupon:	26.5% annualized rate, plus previously unpaid coupons, payable monthly if each stock closes at or above coupon barrier price, on valuation date for that period
Price:	Par
Payout at maturity:	Par plus contingent coupon if each stock closes at or above final barrier; otherwise, number of shares of the worst performer equal to the principal amount divided by initial share price of worst performing stock or, at issuer’s option, cash equivalent
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any monthly valuation date after three months
Initial levels:	$138.30 for Beyond Meat, $82.87 for Chewy, $29.07 for Schlumberger and $295.66 for Wayfair
Coupon barrier levels:	$69.15 for Beyond Meat, $41.435 for Chewy, $14.535 for Schlumberger and $147.83 for Wayfair, 50% of initial levels
Final barrier levels:	$69.15 for Beyond Meat, $41.435 for Chewy, $14.535 for Schlumberger and $147.83 for Wayfair, 50% of initial levels
Pricing date:	March 5
Settlement date:	March 10
Underwriter:	Citigroup Global Markets Inc.
Fees:	3%
Cusip:	17328YRH9

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