Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $515,000 19.75% callable contingent coupon notes on stocks
Chicago, Feb. 13 – Citigroup Global Markets Holdings Inc. priced $515,000 of callable contingent coupon equity-linked securities due Dec. 31, 2026 linked to the common stocks of Bank of America Corp., Southwest Airlines Co. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.75% paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting March 28, 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 70% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying stocks: | Bank of America Corp., Southwest Airlines Co. and Starbucks Corp.
|
| Amount: | $515,000
|
| Maturity: | Dec. 31, 2026
|
| Coupon: | 19.75% annual rate, paid monthly if the worst performing stock closes at or above its 60% coupon barrier on the related valuation date
|
| Price: | Par
|
| 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
|
| Call: | Starting March 28, 2024 at par and on any subsequent monthly review date
|
| Initial levels: | $33.88 for BofA, $29.38 for Southwest Airlines, $95.93 for Starbucks
|
| Coupon barriers: | $20.328 for BofA, $17.628 for Southwest Airlines, $57.558 for Starbucks, 60% of initial levels
|
| Final barriers: | $23.716 for BofA, $20.566 for Southwest Airlines, $67.151 for Starbucks, 70% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Jan. 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17291TNZ7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
