Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3 million 23% callable contingent coupon notes on stocks
Chicago, April 8 – Citigroup Global Markets Holdings Inc. priced $3 million of callable contingent coupon equity-linked securities due April 7, 2027 linked to the worst performing of the common stocks of Advanced Micro Devices, Inc., Alphabet Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23% paid monthly if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called starting July 2 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 50% 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: | Advanced Micro Devices, Inc., Alphabet Inc. and Tesla, Inc.
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| Amount: | $3 million
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| Maturity: | April 7, 2027
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| Coupon: | 23% annual rate, paid monthly if the worst performing stock closes at or above its 50% 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 2 at par and on any subsequent quarterly review date
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| Initial levels: | $178.70 for AMD, $155.87 for Alphabet, $166.63 for Tesla
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| Coupon barriers: | $89.350 for AMD, $77.935 for Alphabet, $83.315 for Tesla, 50% of initial levels
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| Final barriers: | $89.350 for AMD, $77.935 for Alphabet, $83.315 for Tesla, 50% of initial levels
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| Pricing date: | April 2
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| Settlement date: | April 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331AM99
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