Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.16 million 18.15% callable contingent coupon notes on ETFs
By Emma Trincal
New York, Feb. 15 – Citigroup Global Markets Holdings Inc. priced $1.16 million of callable contingent coupon equity-linked securities due Feb. 12, 2027 linked to the worst performing of the SPDR S&P Regional Banking ETF, the Utilities Select Sector SPDR fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.15% 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 May 9, 2024 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying ETFs: | SPDR S&P Regional Banking ETF, Utilities Select Sector SPDR fund and VanEck Vectors Gold Miners ETF
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| Amount: | $1,160,000
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| Maturity: | Feb. 12, 2027
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| Coupon: | 18.15% annual rate, 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; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
|
| Call: | Starting May 9 at par and on any subsequent monthly review date
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| Initial levels: | $47.87 for SPDR Regional Banking, $60.27 Utilities fund, $26.97 for Gold Miners
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| Coupon barriers: | $33.509 for SPDR Regional Banking, $42.189 for Utilities fund, $18.879 for Gold Miners, 70% of initial levels
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| Final barriers: | $28.722 for SPDR Regional Banking, $36.162 for Utilities fund, $16.182 for Gold Miners, 60% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17291L2S3
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