Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $379,000 8.65% callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, April 22 – Citigroup Global Markets Holdings Inc. priced $379,000 of callable contingent coupon equity linked securities due July 31, 2025 linked to the Dow Jones industrial average, 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 8.65% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting Jan. 29, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing index ends at or above its 70% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing index 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $379,000
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| Maturity: | July 31, 2025
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| Coupon: | 8.65% paid monthly if the worst performing index 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 index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Starting Jan. 29, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 35,282.72 for Dow, 1,954.896 for Russell, 4,537.41 for S&P
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| Coupon barriers: | 24,697.904 for Dow, 1,368.427 for Russell, 3,176.187 for S&P, 70% of initial levels
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| Final barriers: | 24,697.904 for Dow, 1,368.427 for Russell, 3,176.187 for S&P, 70% of initial levels
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| Pricing date: | July 27, 2023
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| Settlement date: | Aug. 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17291RVS8
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