Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $14.3 million contingent coupon equity linked autocalls on indexes
New York, Jan. 24 – Citigroup Global Markets Holdings Inc. priced $14.3 million of autocallable contingent coupon equity linked securities due Jan. 22, 2031 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, paid monthly, if the worst performing index closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting Feb. 18, 2025.
If the worst performing index 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 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: | Autocallable contingent coupon equity linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $14.3 million
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| Maturity: | Jan. 22, 2031
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| Coupon: | 8.2%, paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting Feb. 18, 2025
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| Initial levels: | 1,955.456 for Russell 2000 index, 4,780.24 for S&P 500 index
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| Coupon barriers: | 1,564.365 for Russell 2000 index, 3,824.192 for S&P 500 index, 80% of initial levels
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| Final barriers: | 1,173.274 for Russell 2000 index, 2,868.144 for S&P 500 index, 60% of initial levels
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| Strike date: | Jan. 11
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291TWC8
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