Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.88 million contingent coupon equity linked autocalls on three ETFs
New York, March 25 – Citigroup Global Markets Holdings Inc. priced $1.88 million of autocallable contingent coupon equity linked securities due March 19, 2029 linked to the Energy Select Sector SPDR Fund, the Invesco QQQ Trust, Series 1 and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, 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 semiannual valuation date starting March 14, 2025.
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: | Energy Select Sector SPDR Fund, Invesco QQQ Trust, Series 1 and Utilities Select Sector SPDR Fund
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| Amount: | $1,883,000
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| Maturity: | March 19, 2029
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| Coupon: | 9%, 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 semiannual valuation date starting March 14, 2025
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| Initial levels: | $91.29 for Energy Select Sector SPDR Fund, $439.14 for Invesco QQQ Trust, Series 1, $63.37 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | $63.903 for Energy Select Sector SPDR Fund, $307.398 for Invesco QQQ Trust, Series 1, $44.359 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | $63.903 for Energy Select Sector SPDR Fund, $307.398 for Invesco QQQ Trust, Series 1, $44.359 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17291LTJ4
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