Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.08 million 7.3% contingent coupon autocallables linked to ETFs
New York, March 6 – Citigroup Global Markets Holdings Inc. priced $2.08 million of autocallable contingent coupon equity linked securities due Oct. 2, 2024 linked to the Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.3% paid monthly if the worst performing ETF closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting Dec. 27, 2023 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing ETF finishes at or above its 75% 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: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $2,078,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 7.3% paid monthly if the worst performing ETF closes at or above its 75% 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
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| Call: | Automatically starting Dec. 27, 2023 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $363.83 for Invesco QQQ Trust, Series 1, $436.17 for SPDR S&P 500 ETF Trust
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| Coupon barriers: | $272.873 for Invesco QQQ Trust, Series 1, $327.128 for SPDR S&P 500 ETF Trust, 75% of initial levels
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| Final barriers: | $272.873 for Invesco QQQ Trust, Series 1, $327.128 for SPDR S&P 500 ETF Trust, 75% of initial levels
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17291R7D8
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