New York, June 27 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due July 1, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.4%, paid monthly, if the underlying fund closes at or above its 90% downside threshold on the related monthly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be called automatically at par if the ETF closes at or above its initial level on any monthly determination date.
At maturity, the payout will be par unless the ETF finishes below its 90% downside threshold level, in which case investors will lose 1.11111% for each 1% decline of the ETF beyond 10%.
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 ETF: | SPDR S&P 500 ETF Trust
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Amount: | $10 million
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Maturity: | July 1, 2024
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Coupon: | 11.4%, paid monthly, if the underlying fund closes at or above its 90% downside threshold on the related monthly observation date; coupon payment events will automatically include any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will lose 1.11111% for each 1% decline of the ETF beyond 10%
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Call: | Automatically at par if the ETF closes at or above its initial level on any monthly determination date
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Initial level: | $437.18
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Downside threshold: | $393.462, 90% of initial level
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Strike date: | June 20
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Pricing date: | June 21
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Settlement date: | June 26
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Agent: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 0.1% including a structuring fee of 0.05%
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Cusip: | 17291RBW1
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