Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $636,000 8.05% callable contingent coupon equity notes on indexes
Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $636,000 of callable contingent coupon equity-linked securities due Oct. 21, 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 8.05% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called starting July 16, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | $636,000
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| Maturity: | Oct. 21, 2025
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| Coupon: | 8.05% annual rate, paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting July 16, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 16,830.71 for Nasdaq, 1,927.304 for Russell, 4,765.98 for S&P
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| Coupon barriers: | 13,464.568 for Nasdaq, 1,541.843 for Russell, 3,812.784 for S&P, 80% of initial levels
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| Final buffer levels: | 13,464.568 for Nasdaq-100 index, 1,541.843 for Russell 2000 index, 3,812.784 for S&P 500 index, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291TTU2
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