Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $651,000 9.3% autocallable contingent coupon notes on funds, index
Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $651,000 of autocallable contingent coupon equity-linked securities due Dec. 19, 2025 linked to the worst performing of the Energy Select Sector SPDR Fund, S&P 500 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par starting April 16 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing asset finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss 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: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | Energy Select Sector SPDR Fund, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $651,000
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| Maturity: | Dec. 19, 2025
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| Coupon: | 9.3% annual rate, paid monthly if the worst performing asset closes at or above its 70% 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; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Automatically at par starting April 16 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $80.71 for energy, 4,765.98 for S&P 500, $62.63 for utilities
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| Coupon barriers: | $56.497 for energy, 3,336.186 for S&P 500, $43.841 for utilities, 70% of initial levels
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| Final barriers: | $56.497 for energy, 3,336.186 for S&P 500, $43.841 for utilities, 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: | 2.15%
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| Cusip: | 17291TNM6
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