Published on 1/3/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million callable contingent coupon equity linked securities on two stocks
New York, Jan. 3 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity linked securities due Dec. 30, 2025 linked to the common stocks of Shopify Inc. and SolarEdge Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 30.75%, paid quarterly, if the worst performing stock closes at or above its 50% coupon barrier on the related valuation date.
The securities may be called at par on any quarterly review date starting Dec. 23, 2024.
The payout at maturity will be par if the worst performing stock ends at or above its 50% final barrier.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial level or, at the issuer’s option, the cash equivalent.
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: | Shopify Inc. and SolarEdge Technologies, Inc.
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| Amount: | $1 million
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| Maturity: | Dec. 30, 2025
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| Coupon: | 30.75%, paid quarterly if the worst performing stock closes at or above its 50% 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; otherwise, receive a number of shares of the worst performer equal to its equity ratio or, at the issuer’s option, the cash equivalent
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| Call option: | At par on any quarterly review date starting Dec. 23, 2024
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| Initial levels: | $75.42 for Shopify Inc., $94.85 for SolarEdge Technologies, Inc.
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| Coupon barriers: | $37.710 for Shopify Inc., $47.425 for SolarEdge Technologies, Inc., 50% of initial levels
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| Final barriers: | $37.710 for Shopify Inc., $47.425 for SolarEdge Technologies, Inc., 50% of initial levels
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| Equity ratios: | 13.25908 for Shopify Inc., 10.54296 for SolarEdge Technologies, Inc., shares delivered per security
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| Strike date: | Dec. 20
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17331AML2
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