Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.62 million callable contingent coupon equity linked notes on ETFs, index
New York, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $2.62 million of callable contingent coupon equity linked securities due Feb. 25, 2027 linked to the Russell 2000 index, the SPDR S&P Regional Banking ETF and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.3%, paid quarterly, if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date starting Aug. 20, 2024.
The payout at maturity will be par if the worst performing asset ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying assets: | Russell 2000 index, SPDR S&P Regional Banking ETF and Utilities Select Sector SPDR Fund
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| Amount: | $2.62 million
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| Maturity: | Feb. 25, 2027
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| Coupon: | 11.3%, paid quarterly if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly review date starting Aug. 20, 2024
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| Initial levels: | 2,004.143 for Russell 2000 index, $48.33 for SPDR S&P Regional Banking ETF, $61.19 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 1,202.486 for Russell 2000 index, $28.998 for SPDR S&P Regional Banking ETF, $36.714 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Final barriers: | 1,202.486 for Russell 2000 index, $28.998 for SPDR S&P Regional Banking ETF, $36.714 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | Feb. 20
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| Settlement date: | Feb. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17291LHW8
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