Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $746,000 11.75% callable contingent coupon notes on indexes, ETF
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $746,000 of callable contingent coupon equity-linked securities due Oct. 28, 2025 linked to the worst performing of the Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75% 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 starting July 23, 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 55% 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 SPDR S&P Regional Banking ETF
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| Amount: | $746,000
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| Maturity: | Oct. 28, 2025
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| Coupon: | 11.75% annual rate, 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; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Starting July 23, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 1,976.268 for Russell, 4,864.60 for S&P, $51.66 for ETF
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| Coupon barriers: | 1,383.388 for Russell, 3,405.220 for S&P, $36.162 for ETF, 70% of initial levels
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| Final barriers: | 1,086.947 for Russell, 2,675.530 for S&P, $28.413 for ETF, 55% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291L5Y7
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