Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $33.07 million 9.7% contingent income callable securities on indexes
New York, April 15 – Citigroup Global Markets Holdings Inc. priced $33.07 million of contingent income callable securities due Oct. 14, 2027 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.7%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter
The securities may be called at par and on any subsequent determination date.
If the worst performing index gains or ends above its 65% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley will act as distributor.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $33,067,000
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| Maturity: | Oct. 14, 2027
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| Coupon: | 9.7%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par and on any subsequent determination date
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| Initial levels: | 18,169.90 for Nasdaq-100 index, 2,080.800 for Russell 2000 index, 5,209.91 for S&P 500 index
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| Downside thresholds: | 11,810.435 for Nasdaq-100 index, 1,352.520 for Russell 2000 index, 3,386.442 for S&P 500 index, 65% of initial level
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| Coupon barriers: | 13,627.425 for Nasdaq-100 index, 1,560.600 for Russell 2000 index, 3,907.433 for S&P 500 index, 75% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 12
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2.1875%
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| Cusip: | 17331AR78
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