Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.74 million callable contingent coupon equity linked notes on indexes, ETF
New York, March 20 – Citigroup Global Markets Holdings Inc. priced $1.74 million of callable contingent coupon equity linked securities due March 11, 2027 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, 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 June 10.
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.
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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 Utilities Select Sector SPDR Fund
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| Amount: | $1,737,000
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| Maturity: | March 11, 2027
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| Coupon: | 9.8%, 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 June 10
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| Initial levels: | 2,082.713 for Russell 2000 index, 5,123.69 for S&P 500 index, $63.75 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 1,457.899 for Russell 2000 index, 3,586.583 for S&P 500 index, $44.625 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | 1,249.628 for Russell 2000 index, 3,074.214 for S&P 500 index, $38.250 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17291LTG0
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