Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.75 million callable contingent coupon equity linked securities on SPDR ETFs
New York, Oct. 31 – Citigroup Global Markets Holdings Inc. priced $2.75 million of callable contingent coupon equity linked securities due Oct. 29, 2026 linked to the Energy Select Sector SPDR Fund, the Financial Select Sector SPDR Fund and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.85%, 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 at par on any monthly review date starting April 25, 2024.
The payout at maturity will be par if the worst performing ETF ends at or above its 70% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying ETFs: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund and Health Care Select Sector SPDR Fund
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| Amount: | $2,748,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 14.85%, 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
|
| Call option: | At par on any monthly review date starting April 25, 2024
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| Initial levels: | $87.39 for Energy Select Sector SPDR Fund, $32.10 for Financial Select Sector SPDR Fund, $126.51 for Health Care Select Sector SPDR Fund
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| Coupon barriers: | $61.173 for Energy Select Sector SPDR Fund, $22.470 for Financial Select Sector SPDR Fund, $88.557 for Health Care Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | $61.173 for Energy Select Sector SPDR Fund, $22.470 for Financial Select Sector SPDR Fund, $88.557 for Health Care Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291T5N4
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