Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $739,000 10.75% callable contingent coupon notes on indexes, fund
Chicago, Feb. 13 – Citigroup Global Markets Holdings Inc. priced $739,000 of callable contingent coupon equity linked securities due Jan. 2, 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 10.75% paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting June 28, 2024 at par and on any subsequent quarterly review date.
The payout at maturity will be par if the worst performing asset ends at or above its 70% 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: | $739,000
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Maturity: | Jan. 2, 2026
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Coupon: | 10.75% annual rate, paid quarterly 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 June 28, 2024 at par and on any subsequent quarterly review date
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Initial levels: | 2,058.335 for Russell, 4,783.35 for S&P, $63.41 for Fund
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Coupon barriers: | 1,440.835 for Russell, 3,348.345 for S&P, $44.387 for Fund, 70% of initial levels
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Final barriers: | 1,440.835 for Russell, 3,348.345 for S&P, $44.387 for Fund, 70% of initial levels
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Pricing date: | Dec. 28
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Settlement date: | Jan. 3
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17291TQ43
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