Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $648,000 10% callable contingent coupon notes on Russell, ETFs
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $648,000 of callable contingent coupon equity-linked securities due Oct. 29, 2025 linked to the worst performing of the Russell 2000 index, SPDR S&P Biotech ETF and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities may be called starting July 24, 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.
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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, SPDR S&P Biotech ETF and Utilities Select Sector SPDR Fund
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| Amount: | $648,000
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| Maturity: | Oct. 29, 2025
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| Coupon: | 10% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| 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
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| Call: | Starting July 24, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 1,961.865 for Russell, $87.72 for biotech, $59.95 for utilities
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| Coupon barriers: | 1,373.306 for Russell, $61.404 for biotech, $41.965 for utilities, 70% of initial levels
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| Final barriers: | 1,177.119 for Russell, $52.632 for biotech, $35.970 for utilities, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.2%
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| Cusip: | 17291TZ43
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