By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Dec. 26, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.9%, paid monthly, if the underlying ETF closes at or above its 85% coupon barrier on the related monthly observation date, in which case investors will also receive any previously unpaid coupon.
The securities will be called automatically at par if the ETF closes at or above its initial level on any determination date beginning Jan. 20, 2023.
At maturity the payout will be par unless the ETF closes below its 85% downside threshold level in which case investors will lose 1.1765% for each 1% decline of the ETF beyond 15%.
The notes are guaranteed by Citigroup Inc. Morgan Stanley Wealth Management is a dealer.
Citigroup Global Markets Inc. is the agent.
| 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 ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | Dec. 26, 2023
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| Coupon: | 11.9%, paid monthly, if the underlying ETF closes at or above its coupon barrier on the related monthly observation date, including any previously unpaid coupon
|
| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below its downside threshold level in which case investors will lose 1.1765% for each 1% decline in the ETF beyond 15%
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| Call: | Automatically at par if ETF closes at or above initial level on any monthly determination date beginning Jan. 20, 2023
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| Initial level: | $380.02
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| Downside threshold: | $323.017, 85% of initial level
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| Coupon barrier: | $323.017, 85% of initial level
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| Strike date: | Dec. 19
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 17330YV31
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