Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $6.92 million callable contingent coupon equity linked securities on indexes
New York, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $6.92 million of callable contingent coupon equity linked securities due Feb. 25, 2027 linked to the Nasdaq-100 Technology Sector index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.2%, paid quarterly, if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date.
The payout at maturity will be par if the worst performing index finishes at or above 85% of its initial level.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 15%.
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 indexes: | Nasdaq-100 Technology Sector index and Russell 2000 index
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Amount: | $6,921,000
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Maturity: | Feb. 25, 2027
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Coupon: | 13.2%, paid quarterly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its final buffer, par; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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Call option: | At par on any quarterly review date
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Initial levels: | 10,122.30 for Nasdaq-100 Technology Sector index, 2,004.143 for Russell 2000 index
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Coupon barriers: | 8,603.955 for Nasdaq-100 Technology Sector index, 1,703.522 for Russell 2000 index, 85% of initial levels
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Buffer: | 15%
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Final buffers: | 8,603.955 for Nasdaq-100 Technology Sector index, 1,703.522 for Russell 2000 index, 85% of initial levels
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Pricing date: | Feb. 20
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Settlement date: | Feb. 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.45%
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Cusip: | 17291LCQ6
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