Published on 3/12/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.82 million 9.8% callable contingent coupon notes on indexes, fund
Chicago, March 12 – Citigroup Global Markets Holdings Inc. priced $2.82 million of callable contingent coupon equity-linked securities due Sept. 11, 2026 linked to the worst performing of the Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting June 5 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: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $2,816,000
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| Maturity: | Sept. 11, 2026
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| Coupon: | 9.8% annual rate, paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
|
| 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
|
| Call: | Starting June 5 at par and on any subsequent monthly review date
|
| Initial levels: | 2,053.708 for Russell, 5,078.65 for S&P, $62.58 for utilities Fund
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| Coupon barriers: | 1,437.596 for Russell, 3,555.055 for S&P, $43.806 for utilities Fund, 70% of initial levels
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| Final barriers: | 1,232.225 for Russell, 3,047.190 for S&P, $37.548 for utilities Fund, 60% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 8
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.3%
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| Cusip: | 17291LQ65
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