Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $906,000 10.75% callable contingent coupon notes on indexes, fund
Chicago, April 19 – Citigroup Global Markets Holdings Inc. priced $906,000 of callable contingent coupon equity-linked securities due Jan. 22, 2027 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75% paid monthly if the worst performing asset closes at or above its 75% coupon barrier on the related valuation date.
The securities may be called starting Oct. 21, 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: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $906,000
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Maturity: | Jan. 22, 2027
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Coupon: | 10.75% annual rate, paid monthly if the worst performing asset closes at or above its 75% 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 Oct. 21, 2024 at par and on any subsequent monthly review date
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Initial levels: | 17,314.00 for Nasdaq, 1,944.391 for Russell, $60.98 for fund
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Coupon barriers: | 12,985.500 for Nasdaq, 1,458.293 for Russell, $45.735 for fund, 75% of initial levels
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Final barriers: | 10,388.400 for Nasdaq, 1,166.635 for Russell, $36.588 for fund, 60% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17291TV21
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