Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.28 million 17.25% callable contingent coupon equity notes on ETFs
Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $1.28 million of callable contingent coupon equity linked securities due Jan. 8, 2026 linked to the worst performing of the Financial Select Sector SPDR Fund, SPDR S&P Biotech ETF and VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.25% paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting April 5 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing ETF ends at or above its 60% final barrier. Otherwise, investors will lose 1% 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: | Callable contingent coupon equity linked securities
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| Underlying ETFs: | Financial Select Sector SPDR Fund, SPDR S&P Biotech ETF and VanEck Vectors Gold Miners ETF
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| Amount: | $1,282,000
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| Maturity: | Jan. 8, 2026
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| Coupon: | 17.25% annual rate, paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Starting April 5 at par and on any subsequent monthly review date
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| Initial levels: | $37.75 for financial, $89.30 for biotech, $29.77 for gold
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| Coupon barriers: | $26.425 for financial, $62.510 for biotech, $20.839 for gold, 70% of initial levels
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| Final barriers: | $22.650 for financial, $53.580 for biotech, $17.862 for gold, 60% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17291TTA6
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