By William Gullotti
Buffalo, N.Y., Aug. 18 – Citigroup Global Markets Holdings Inc. priced $3.01 million of 0% trigger Performance Leveraged Upside Securities due Feb. 15, 2024 linked to the stock performance of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the stock finishes above its initial level, the payout at maturity will be par of $10 plus 300% of the gain, subject to a maximum return of par plus 60%.
If the stock declines up to the 90% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to the stock’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying stock: | Blackstone Inc.
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| Amount: | $3,008,370
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| Maturity: | Feb. 15, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the stock gains, par plus 300% of the return, capped at par plus 60%; if the stock falls by up to trigger level, par; otherwise, 1% loss for every 1% decline from initial level
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| Initial level: | $108.79
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| Trigger level: | $97.911; 90% of initial level
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 17330N823
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