Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.44 million 8.3% callable contingent coupon notes tied to Russell, S&P
New York, March 6 – Citigroup Global Markets Holdings Inc. priced $1.44 million of callable contingent coupon equity linked securities due June 30, 2028 linked to the 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 8.3% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
Starting June 28, 2024, the securities may be called at par on any quarterly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $1,435,000
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| Maturity: | June 30, 2028
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| Coupon: | 8.3% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its buffer level, par; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting June 28, 2024, at par on any quarterly review date
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| Initial levels: | 1,858.709 for Russell 2000 index, 4,376.86 for S&P 500 index
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| Coupon barriers: | 1,579.903 for Russell 2000 index, 3,720.331 for S&P 500 index, 85% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 1,579.903 for Russell 2000 index, 3,720.331 for S&P 500 index, 85% of initial levels
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| Pricing date: | June 28, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17291RTY8
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