New York, March 22 – Citigroup Global Markets Holdings Inc. priced $3 million of contingent income autocallable securities due March 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid quarterly, if the underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the index closes at or above its initial level on any quarterly determination date starting Sept. 18, 2023.
At maturity, the payout will be par unless the index finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the index.
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 index: | S&P 500 index
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| Amount: | $3 million
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| Maturity: | March 20, 2025
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| Coupon: | 7%, paid quarterly, if the underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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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 be fully exposed to the decline in the index
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| Call: | Automatically at par if the index closes at or above its initial level on any quarterly determination date starting Sept. 18, 2023
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| Initial level: | 3,891.93
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| Downside threshold: | 2,335.158, 60% of initial level
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| Strike date: | March 15
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.75% including a structuring fee of 0.389%
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| Cusip: | 17331H7H3
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