Published on 3/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.14 million 10.85% callable contingent coupon notes on indexes
Chicago, March 15 – Citigroup Global Markets Holdings Inc. priced $2.14 million of callable contingent coupon equity-linked securities due Sept. 9, 2025 linked to the worst performing of 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 10.85% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting Sept. 4, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index ends above its initial level or no index has closed below the 67% knock-in level during the life of the notes. Otherwise, investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $2,137,000
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| Maturity: | Sept. 9, 2025
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| Coupon: | 10.85% annual rate, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above initial level or no index closes below knock-in level during life of notes, par; otherwise, 1% loss for every 1% that worst performing index declines
|
| Call: | Starting Sept. 4, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 18,226.48 for Nasdaq, 2,074.309 for Russell, 5,130.95 for S&P
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| Coupon barriers: | 12,758.536 for Nasdaq, 1,452.016 for Russell, 3,591.665 for S&P, 70% of initial levels
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| Knock-in levels: | 12,211.742 for Nasdaq, 1,389.787 for Russell, 3,437.737 for S&P, 67% of initial levels
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| Pricing date: | March 4
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| Settlement date: | March 7
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291LXJ9
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