New York, April 14 – Citigroup Global Markets Holdings Inc. priced $9.43 million of contingent income autocallable securities due April 2, 2026 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.15%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on every trading day during the observation period.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly observation date starting Sept. 29, 2023.
At maturity, the payout will be par unless the stock finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the 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 stock: | Apple Inc.
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| Amount: | $9,434,950
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| Maturity: | April 2, 2026
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| Coupon: | 9.15%, paid quarterly if the underlying stock closes at or above its 60% downside threshold on every trading day during the observation period
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| Price: | Par of $10
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| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly observation date starting Sept. 29, 2023
|
| Initial level: | $160.77
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| Downside threshold: | $96.462, 60% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5% including a structuring fee of 0.5%
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| Cusip: | 17331D824
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