Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $725,000 18.25% callable contingent coupon equity notes on stocks
Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $725,000 of callable contingent coupon equity-linked securities due Jan. 22, 2027 linked to the worst performing of the common stocks of Conagra Brands, Inc., NIKE, Inc. and Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.25% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting July 16, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing stock 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 stocks: | Conagra Brands, Inc., NIKE, Inc. and Pfizer Inc.
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| Amount: | $725,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 18.25% annual rate, paid monthly if the worst performing stock 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 stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Starting July 16, 2024 at par and on any subsequent monthly review date
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| Initial levels: | $28.58 for Conagra, $101.72 for NIKE, $28.32 for Pfizer
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| Coupon barriers: | $17.148 for Conagra, $61.032 for NIKE, $16.992 for Pfizer, 60% of initial levels
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| Final barriers: | $20.006 for Conagra, $71.204 for NIKE, $19.824 for Pfizer, 70% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291TZ35
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