Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.67 million autocallable contingent coupon notes on index, ETFs
Chicago, April 8 – Citigroup Global Markets Holdings Inc. priced $2.67 million of autocallable contingent coupon equity-linked securities due Dec. 23, 2025 linked to the worst performing of the Russell 2000 index, iShares 20+ Year Treasury Bond ETF and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% paid monthly if the worst performing asset closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par if all three assets close above their initial levels on a monthly potential autocall date starting after three months.
The payout at maturity will be par plus any final contingent coupon if all three assets close above their final barrier levels.
Otherwise, investors will be fully exposed to the losses of the worst performing asset.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | Russell 2000 index, iShares 20+ Year Treasury Bond ETF and Utilities Select Sector SPDR Fund
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| Amount: | $2,665,000
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| Maturity: | Dec. 23, 2025
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| Coupon: | 8% annual rate, paid monthly if the worst performing asset closes at or above its coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus any final contingent coupon if all three assets close above final barrier levels; otherwise, full exposure to losses of worst performing asset
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| Call: | Automatically at par if all three assets close above their initial levels on a monthly potential autocall date starting after three months
|
| Initial levels: | $93.79 for Treasury ETF, 1,923.653 for Russell, $61.06 for utilities fund
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| Coupon barrier levels: | $70.343 for Treasury ETF, 1,442.74 for Russell, $45.795 for utilities fund, 75% of initial levels
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| Final barrier levels: | $65.653 for Treasury ETF, 1,346.557 for Russell, $42.742 for utilities fund, 70% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.225%
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| Cusip: | 17291TVX3
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