Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 10.05% autocallable contingent coupon notes on stocks
Chicago, Feb. 27 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due Jan. 22, 2027 linked to the worst performing of the common stocks of Apple Inc., Deere & Co. and Lowe`s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.05% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par starting July 17, 2024 and on any subsequent monthly valuation date if all three stocks close above 90% of their initial levels on a related valuation date.
If the worst performing stock finishes at or above its 60% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock 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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Apple Inc., Deere & Co. and Lowe`s Cos., Inc.
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| Amount: | $500,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 10.05% annual rate, paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Automatically at par starting July 17, 2024 and on any subsequent monthly valuation date if all three stocks close above 90% of their initial levels on a related observation date
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| Initial levels: | $182.68 for Apple, $378.61 for Deere, $218.05 for Lowe`s
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| Coupon barriers: | $109.608 for Apple, $227.166 for Deere, $130.830 for Lowe`s, 60% of initial levels
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| Final barriers: | $109.608 for Apple, $227.166 for Deere, $130.830 for Lowe`s, 60% of initial levels
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| Call barrier levels: | $164.412 for Apple, $340.749 for Deere, $196.245 for Lowe`s, 90% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17291TMN5
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