Citigroup Global Markets Holdings Inc. Issues Contingent Income Callable Securities Linked to Worst Performing of Three Indices
Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., has issued Contingent Income Callable Securities with a stated principal amount of $1,000 per security, maturing November 9, 2028. The securities are linked to the worst performing of the Nasdaq-100 Index, Russell 2000 Index, and S&P 500 Index, and offer a contingent coupon of 2.025% per quarter (8.10% per annum) provided no coupon barrier event occurs. Coupon barrier and downside threshold levels are set at 60.00% of each underlying index's i...
Key takeaways
Contingent coupon of 8.10% per annum paid quarterly only if no underlying index closes below 60% of its initial level on any trading day during the observation period
Securities may be called by the issuer on any potential redemption date at stated principal amount plus any applicable contingent coupon
Payment at maturity returns full principal only if the worst performing index finishes at or above its 60% downside threshold level; otherwise, investors receive principal reduced by the worst performing index's percentage decline
Coupon barrier event and downside threshold both set at 60% of each underlying index's initial level, creating symmetry between coupon eligibility and principal protection
Estimated value on pricing date expected to be at least $921 per $1,000 security, reflecting a discount to public offering price
Securities subject to credit risk of issuer Citigroup Global Markets Holdings Inc. and guarantor Citigroup Inc.; not listed on any securities exchange
CUSIP 17334D2G6 / ISIN US17334D2G66
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