Published on 8/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.33 million 8.6% contingent income autocallables linked to indexes
New York, Aug. 7 – Citigroup Global Markets Holdings Inc. priced $11.33 million of contingent income autocallable securities due July 31, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
Starting Oct. 30, the securities will be automatically called at par if each index closes at or above its initial level on any quarterly review date.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level. in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $11,326,000
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| Maturity: | July 31, 2025
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| Coupon: | 8.6%, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Starting Oct. 30, automatically at par if each index closes at or above initial level on any quarterly review date
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| Initial levels: | 15,750.93 for Nasdaq-100 index, 1,981.537 for Russell 2000 index, 4,582.23 for S&P 500 index
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| Downside thresholds: | 11,813.198 for Nasdaq-100 index, 1,486.153 for Russell 2000 index, 3,436.673 for S&P 500 index, 75% of initial level
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17291RRL8
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