Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.48 million 8.3% contingent income callable securities on indexes
Chicago, Jan. 29 – Citigroup Global Markets Holdings Inc. priced $4.48 million of contingent income callable securities due Jan. 23, 2026 linked to the worst performing of the Euro Stoxx 50 index, 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 8.3%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called at par quarterly and on any subsequent determination date.
If the worst performing index gains or ends above its 65% 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 will act as distributor.
| 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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $4.48 million
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| Maturity: | Jan. 23, 2026
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| Coupon: | 8.3% annual rate, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly 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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| Call: | At par quarterly and on any subsequent determination date
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| Initial levels: | 4,448.83 for Stoxx, 1,944.391 for Russell, 4,839.81 for S&P
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| Coupon barriers: | 2,891.740 for Stoxx, 1,263.854 for Russell, 3,145.877 for S&P, 65% of initial levels
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| Downside thresholds: | 2,891.740 for Stoxx, 1,263.854 for Russell, 3,145.877 for S&P, 65% of initial level
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 1.33%
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| Cusip: | 17291TRE0
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