Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.07 million callable contingent coupon equity linked notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Citigroup Global Markets Holdings Inc. priced $2.07 million of callable contingent coupon equity linked securities due Dec. 9, 2025 linked to the Energy Select Sector SPDR Fund, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.84%, paid monthly, if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupon.
The securities may be called at par on any monthly review date starting March 4, 2024.
The payout at maturity will be par if the worst performing asset ends at or above its 70% 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: | Energy Select Sector SPDR Fund, Nasdaq-100 index and S&P 500 index
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| Amount: | $2,071,000
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| Maturity: | Dec. 9, 2025
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| Coupon: | 12.84%, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupon
|
| 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
|
| Call option: | At par on any monthly review date starting March 4, 2024
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| Initial levels: | $84.63 for Energy Select Sector SPDR Fund, 15,839.67 for Nasdaq-100 index, 4,569.78 for S&P 500 index
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| Coupon barriers: | $59.241 for Energy Select Sector SPDR Fund, 11,087.769 for Nasdaq-100 index, 3,198.846 for S&P 500 index, 70% of initial levels
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| Final barriers: | $59.241 for Energy Select Sector SPDR Fund, 11,087.769 for Nasdaq-100 index, 3,198.846 for S&P 500 index, 70% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 7
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291TA65
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