Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.78 million 13.55% callable contingent coupon notes on indexes, ETF
Chicago, Feb. 2 – Citigroup Global Markets Holdings Inc. priced $1.78 million of callable contingent coupon equity-linked securities due Oct. 15, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.55% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting July 9, 2024 at par and on any subsequent monthly review date.
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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $1,777,000
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| Maturity: | Oct. 15, 2025
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| Coupon: | 13.55% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Starting July 9, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 16,678.71 for Nasdaq, 1,968.035 for Russell, $51.62 for ETF
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| Coupon barriers: | 11,675.097 for Nasdaq, 1,377.625 for Russell, $36.134 for ETF, 70% of initial levels
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| Final barriers: | 10,007.226 for Nasdaq, 1,180.821 for Russell, $30.972 for ETF, 60% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291TUB2
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