Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $240,000 6.9% callable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $240,000 of callable contingent coupon equity linked securities due July 22, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.9% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities may be called on Jan. 17, 2024 and April 17, 2024.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $240,000
|
| Maturity: | July 22, 2024
|
| Coupon: | 6.9% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its final buffer par; 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | At par on Jan. 17, 2024 and April 17, 2024
|
| Initial levels: | 1,951.269 for Russell, 4,522.79 for S&P
|
| Coupon barriers: | 1,561.015 for Russell, 3,618.232 for S&P, 80% of initial levels
|
| Buffer: | 20%
|
| Final buffers: | 1,561.015 for Russell, 3,618.232 for S&P, 80% of initial levels
|
| Pricing date: | July 17, 2023
|
| Settlement date: | July 20, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17291RKA9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
