By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $20 million of contingent income autocallable securities due Feb. 20, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.35%, paid monthly, if the underlying index closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying index is greater than or equal to its initial price on any monthly determination date.
At maturity, the payout will be par unless the index finishes below its 85% downside threshold level, in which case investors will lose 1.1765% for every 1% decline of the index beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management will handle distribution.
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 index: | S&P 500 index
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Amount: | $20 million
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Maturity: | Feb. 20, 2024
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Coupon: | 11.35%, paid monthly, if the underlying index closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the index finishes below its downside threshold level, in which case investors will lose 1.1765% for every 1% decline of the index beyond 15%
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Call: | Automatically at par if the price of the underlying index is greater than or equal to its initial price on any monthly determination date
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Initial level: | 4,137.29
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Downside threshold: | 3,516.697, 85% of initial level
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Strike date: | Feb. 13
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Pricing date: | Feb. 14
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Settlement date: | Feb. 17
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Agent: | Citigroup Global Markets Inc.
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 0.1%
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Cusip: | 17331CQ67
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