Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1 million contingent coupon equity linked autocalls on three ETFs
New York, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity linked securities due Jan. 28, 2027 linked to the SPDR Gold Trust, the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if the worst performing ETF closes at or above its 70% 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 23, 2024.
If the worst performing ETF finishes at or above its 70% 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 ETFs: | SPDR Gold Trust, VanEck Vectors Gold Miners ETF and iShares Silver Trust
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| Amount: | $1 million
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| Maturity: | Jan. 28, 2027
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| Coupon: | 10%, paid monthly if the worst performing ETF 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 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 23, 2024
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| Initial levels: | $187.95 for SPDR Gold Trust, $28.23 for VanEck Vectors Gold Miners ETF, $20.53 for iShares Silver Trust
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| Coupon barriers: | $131.565 for SPDR Gold Trust, $19.761 for VanEck Vectors Gold Miners ETF, $14.371 for iShares Silver Trust, 70% of initial levels
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| Final barriers: | $131.565 for SPDR Gold Trust, $19.761 for VanEck Vectors Gold Miners ETF, $14.371 for iShares Silver Trust, 70% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17291TV54
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