Published on 3/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.47 million 9% callable contingent coupon notes on indexes, fund
Chicago, March 18 – Citigroup Global Markets Holdings Inc. priced $1.47 million of callable contingent coupon equity-linked securities due March 5, 2026 linked to the worst performing of the Nasdaq-100 Technology Sector index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9% 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 starting Sept. 3, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 60% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Nasdaq-100 Technology Sector index, Russell 2000 index and Utilities Select Sector SPDR Fund
|
| Amount: | $1,465,000
|
| Maturity: | March 5, 2026
|
| Coupon: | 9% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
|
| Call: | Starting Sept. 3, 2024 at par and on any subsequent monthly review date
|
| Initial levels: | 10,606.23 for tech index, 2,076.395 for Russell, $61.72 for utilities fund
|
| Coupon barriers: | 7,424.361 for tech index, 1,453.477 for Russell, $43.204 for utilities fund, 70% of initial levels
|
| Final barriers: | 6,363.738 for tech index, 1,245.837 for Russell, $37.032 for utilities fund, 60% of initial levels
|
| Pricing date: | March 1
|
| Settlement date: | March 6
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.7%
|
| Cusip: | 17291LXW0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
