Published on 12/19/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.22 million 19.5% callable contingent coupon equity linked securities linked to Campbell, General Mills, Smucker
New York, Dec. 19 – Citigroup Global Markets Holdings Inc. priced $1.22 million of callable contingent coupon equity linked securities due June 12, 2025 linked to the common stocks of Campbell Soup Co., General Mills, Inc. and J. M. Smucker Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.5% paid monthly if the worst performing stock closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called starting March 8, 2024 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing stock ends at or above its 75% final barrier. Otherwise investors will lose 1% 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: | Callable contingent coupon equity linked securities
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| Underlying stocks: | Campbell Soup Co., General Mills, Inc. and J. M. Smucker Co.
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| Amount: | $1,218,000
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| Maturity: | June 12, 2025
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| Coupon: | 19.5% paid monthly if the worst performing stock 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 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: | Starting March 8, 2024 at par and on any subsequent monthly review date
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| Initial levels: | $42.91 for Campbell Soup Co., $65.47 for General Mills, Inc., $119.33 for J. M. Smucker Co.
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| Coupon barriers: | $34.328 for Campbell Soup Co., $52.376 for General Mills, Inc., $95.464 for J. M. Smucker Co., 80% of initial levels
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| Final barriers: | $32.183 for Campbell Soup Co., $49.103 for General Mills, Inc., $89.498 for J. M. Smucker Co., 75% of initial levels
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291TFU7
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