New Issue: Citi sells $1.34 million callable contingent coupon equity notes on four tech stocks

By Kiku Steinfeld

Chicago, June 16 – Citigroup Global Markets Holdings Inc. priced $1.34 million of callable contingent coupon equity-linked securities due Dec. 4, 2024 linked to the worst performing of the stocks of Amazon.com, Inc., Apple Inc., Meta Platforms, Inc. and Microsoft 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 quarterly coupon at an annual rate of 11.2% if each stock closes at or above its coupon barrier price, 70% of its initial share price, on the valuation date for that period, in which case any previously unpaid coupons will also be paid.

The notes will be callable in whole at par plus any coupon due on any quarterly potential redemption date after six 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 least performing stock.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying stocks:	Amazon.com, Inc., Apple Inc., Meta Platforms, Inc., Microsoft Corp.
Amount:	$1,341,000
Maturity:	Dec. 4, 2024
Coupon:	11.2% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period, in which case any previously unpaid coupons will also be paid
Price:	Par
Payout at maturity:	Par if each stock closes at or above final barrier price; otherwise, investors will be fully exposed to losses of least performing stock
Call option:	In whole at par on any quarterly potential redemption date after six months
Initial share prices:	$3,561.57 for Amazon, $160.24 for Apple, $338.03 for Meta, $336.63 for Microsoft
Coupon barrier prices:	$2,493.099 for Amazon, $112.168 for Apple, $236.621 for Meta, $235.641 for Microsoft; 70% of initial share prices
Final barrier prices:	$2,136.942 for Amazon, $96.144 for Apple, $202.818 for Meta, $201.978 for Microsoft; 60% of initial share prices
Pricing date:	Nov. 29, 2021
Settlement date:	Dec. 2, 2021
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.9%
Cusip:	17329UJC6

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