Published on 7/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.68 million contingent coupon equity linked autocalls on three ETFs
New York, July 17 – Citigroup Global Markets Holdings Inc. priced $2.68 million of autocallable contingent coupon equity linked securities due July 6, 2026 linked to the Energy Select Sector SPDR Fund, the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing price of the worst performing ETF is greater than or equal to its initial price on any monthly valuation date starting July 1, 2024.
If the worst performing ETF finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing ETF 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: | Autocallable contingent coupon equity linked securities
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| Underlying funds: | Energy Select Sector SPDR Fund, SPDR Gold Trust and iShares Silver Trust
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| Amount: | $2,675,000
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| Maturity: | July 6, 2026
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| Coupon: | 11%, paid monthly if the worst performing ETF 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 ETF finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call: | Automatically at par if the closing price of the worst performing ETF is greater than or equal to its initial price on any monthly valuation date starting July 1, 2024
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| Initial levels: | $81.17 for Energy Select Sector SPDR Fund, $178.27 for SPDR Gold Trust, $20.89 for iShares Silver Trust
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| Coupon barriers: | $48.702 for Energy Select Sector SPDR Fund, $106.962 for SPDR Gold Trust, $12.534 for iShares Silver Trust, 60% of initial levels
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| Final barriers: | $48.702 for Energy Select Sector SPDR Fund, $106.962 for SPDR Gold Trust, $12.534 for iShares Silver Trust, 60% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17291RTC6
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