Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.18 million contingent income callable securities on three indexes
New York, June 30 – Citigroup Global Markets Holdings Inc. priced $6.18 million of contingent income callable securities due Unless earlier redeemed by us, June 26, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on every trading day during the observation period.
The securities may be called at par on any quarterly determination date.
If the worst performing index finishes at or above its 65% downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
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 callable securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $6,176,000
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Maturity: | June 26, 2025
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Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on every trading day during the observation period
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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; otherwise, 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call option: | At par on any quarterly determination date
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Initial levels: | 14,891.48 for Nasdaq-100 index, 1,821.635 for Russell 2000 index, 4,348.33 for S&P 500 index
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Downside thresholds: | 9,679.462 for Nasdaq-100 index, 1,184.063 for Russell 2000 index, 2,826.415 for S&P 500 index, 65% of initial levels
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Coupon barriers: | 9,679.462 for Nasdaq-100 index, 1,184.063 for Russell 2000 index, 2,826.415 for S&P 500 index, 65% of initial levels
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2% including a structuring fee of 0.5%
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Cusip: | 17291RGE6
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