Published on 2/20/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.05 million 9.65% contingent income callable securities linked to Russell 2000, S&P 500, TOPIX index
New York, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $9.05 million of contingent income callable securities due Feb. 5, 2029 linked to the Russell 2000 index, S&P 500 index and TOPIX index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.65%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
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: | Russell 2000 index, S&P 500 index and TOPIX index
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| Amount: | $9.05 million
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| Maturity: | Feb. 5, 2029
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| Coupon: | 9.65%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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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: | 1,947.342 for Russell 2000 index, 4,845.65 for S&P 500 index, 2,551.10 for TOPIX index
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| Downside thresholds: | 1,265.772 for Russell 2000 index, 3,149.673 for S&P 500 index, 1,658.215 for TOPIX index, 65% of initial level
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| Coupon barriers: | 1,460.507 for Russell 2000 index, 3,634.238 for S&P 500 index, 1,913.325 for TOPIX index, 75% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2.7%
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| Cusip: | 17291LDG7
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