Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $18.74 million 12.25% contingent income callable securities on Nikkei, Russell, S&P
New York, April 19 – Citigroup Global Markets Holdings Inc. priced $18.74 million of contingent income callable securities due April 20, 2026 linked to the Nikkei 225 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 12.25%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter.
The securities may be called at par on any determination date.
If the worst performing index gains or ends above its 75% 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: | Nikkei 225 index, Russell 2000 index and S&P 500 index
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| Amount: | $18.74 million
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| Maturity: | April 20, 2026
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| Coupon: | 12.25%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier every day that quarter
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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: | Callable at par on any determination date
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| Initial levels: | 39,232.80 for Nikkei 225 index, 1,975.708 for Russell 2000 index, 5,061.82 for S&P 500 index
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| Downside thresholds: | 29,424.600 for Nikkei 225 index, 1,481.781 for Russell 2000 index, 3,796.365 for S&P 500 index, 75% of initial level
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| Coupon barriers: | 29,424.600 for Nikkei 225 index, 1,481.781 for Russell 2000 index, 3,796.365 for S&P 500 index, 75% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 18
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2%
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| Cusip: | 17331AU90
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