Published on 3/10/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $608,000 17% callable contingent coupon notes on three stocks
By Kiku Steinfeld
Chicago, March 11 – Citigroup Global Markets Holdings Inc. priced $608,000 of callable contingent coupon equity linked securities due July 2, 2026 linked to the common stocks of Bank of America Corp., Target Corp. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17% paid monthly if the worst performing stock closes at or above its 55.002% coupon barrier on the related valuation date.
The securities may be called starting Sept. 28, 2023 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 60% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying stocks: | Bank of America Corp., Target Corp. and UnitedHealth Group Inc.
|
| Amount: | $608,000
|
| Maturity: | July 2, 2026
|
| Coupon: | 17% paid monthly if the worst performing stock closes at or above its 55.002% coupon barrier on the related valuation date
|
| Price: | Par
|
| 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
|
| Call: | Starting Sept. 28, 2023 at par and on any subsequent monthly review date
|
| Initial levels: | $28.07 for Bank of America Corp., $132.47 for Target Corp., $474.45 for UnitedHealth Group Inc.
|
| Coupon barriers: | $15.439 for Bank of America Corp., $72.859 for Target Corp., $260.948 for UnitedHealth Group Inc., 55.002% of initial levels
|
| Final barriers: | $16.842 for Bank of America Corp., $79.482 for Target Corp., $284.670 for UnitedHealth Group Inc., 60% of initial levels
|
| Pricing date: | June 28, 2023
|
| Settlement date: | July 3, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17291RD25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
