Published on 5/19/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.41 million 10.75% contingent income autocallables on indexes
Chicago, May 19 – Citigroup Global Markets Holdings Inc. priced $2.41 million of contingent income autocallable securities due May 15, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related observation date.
The securities will be called automatically called at par if each index closes above its initial level on any quarterly early redemption date.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a selected dealer and helped structure the notes.
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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $2,414,000
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Maturity: | May 15, 2025
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Coupon: | 10.75% annual rate, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically at par if each index closes above initial level on any quarterly early redemption date
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Initial levels: | 13,340.18 for Nasdaq, 1,740.849 for Russell, 4,124.08 for S&P
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Coupon barriers: | 10,005.135 for Nasdaq, 1,305.637 for Russell, 3,093.06 for S&P, 75% of initial levels
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Downside thresholds: | 10,005.135 for Nasdaq, 1,305.637 for Russell, 3,093.06 for S&P, 75% of initial levels
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Pricing date: | May 12
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Settlement date: | May 17
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Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as selected dealer and structurer
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Fees: | 2%
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Cusip: | 17331HHE9
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