Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.25 million callable contingent coupon equity linked notes on indexes, ETF
New York, Jan. 24 – Citigroup Global Markets Holdings Inc. priced $1.25 million of callable contingent coupon equity linked securities due July 21, 2025 linked to the Russell 2000 index, the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.35%, paid monthly, if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting July 16, 2024.
The payout at maturity will be par if the worst performing asset ends at or above its 50% final barrier. Otherwise, investors will lose 1% 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: | Callable contingent coupon equity linked securities
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| Underlying assets: | Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $1,247,000
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| Maturity: | July 21, 2025
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| Coupon: | 8.35%, 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting July 16, 2024
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| Initial levels: | 1,927.304 for Russell 2000 index, 4,765.98 for S&P 500 index, $49.54 for SPDR S&P Regional Banking ETF
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| Coupon barriers: | 1,349.113 for Russell 2000 index, 3,336.186 for S&P 500 index, $34.678 for SPDR S&P Regional Banking ETF, 70% of initial levels
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| Final barriers: | 963.652 for Russell 2000 index, 2,382.990 for S&P 500 index, $24.770 for SPDR S&P Regional Banking ETF, 50% 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: | 2.375%
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| Cusip: | 17291TYA0
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