Published on 6/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $26 million 7% contingent income securities linked to Russell, S&P
Chicago, June 2 – Citigroup Global Markets Holdings Inc. priced $26 million of contingent income securities due April 4, 2024 linked to the worst performing of the 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 7%, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 60% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $26 million
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| Maturity: | April 4, 2024
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| Coupon: | 7% annual rate, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Initial level: | 1,767.292 for Russell, 4,205.52 for S&P
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| Coupon barrier levels: | 1,060.375 for Russell, 2,523.312 for S&P; 60% of initial levels
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| Downside threshold levels: | 1,060.375 for Russell, 2,523.312 for S&P; 60% of initial levels
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| Pricing date: | May 30
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| Settlement date: | June 2
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as selected dealer
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| Fees: | 0.95%
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| Cusip: | 17291R5C2
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