Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.2 million 14.6% callable contingent coupon notes on index, ETFs
New York, April 15 – Citigroup Global Markets Holdings Inc. priced $10.2 million of callable contingent coupon equity linked securities due April 14, 2026 linked to the S&P 500 index, SPDR S&P Regional Banking ETF and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.6% 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 starting July 9 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: | S&P 500 index, SPDR S&P Regional Banking ETF and Utilities Select Sector SPDR Fund
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| Amount: | $10,195,000
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| Maturity: | April 14, 2026
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| Coupon: | 14.6% paid monthly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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| 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
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| Call: | Starting July 9 at par and on any subsequent monthly review date
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| Initial levels: | 5,209.91 for S&P 500 index, $49.35 for SPDR S&P Regional Banking ETF, $65.95 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 3,646.937 for S&P 500 index, $34.545 for SPDR S&P Regional Banking ETF, $46.165 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | 3,125.946 for S&P 500 index, $29.610 for SPDR S&P Regional Banking ETF, $39.570 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331AS36
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