Published on 3/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $575,000 17% callable contingent coupon equity securities on stocks
Chicago, March 18 – Citigroup Global Markets Holdings Inc. priced $575,000 of callable contingent coupon equity-linked securities due March 4, 2027 linked to the worst performing of the common stocks of Starbucks Corp., Target Corp. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17% 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 Sept. 3, 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying stocks: | Starbucks Corp., Target Corp. and Boeing Co.
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| Amount: | $575,000
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| Maturity: | March 4, 2027
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| Coupon: | 17% annual rate, paid monthly if the worst performing stock closes at or above its 60% 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; 1% loss for every 1% that worst performing stock declines if it ends below final barrier
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| Call: | Starting Sept. 3, 2024 at par and on any subsequent monthly review date
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| Initial levels: | $93.16 for Starbucks, $155.29 for Target, $200.00 for Boeing
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| Coupon barriers: | $55.896 for Starbucks, $93.174 for Target, $120.000 for Boeing, 60% of initial levels
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| Final barriers: | $65.212 for Starbucks, $108.703 for Target, $140.000 for Boeing, 70% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291LVJ1
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