Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.59 million contingent coupon equity linked autocalls on ETFs, index
Chicago, Feb. 2 – Citigroup Global Markets Holdings Inc. priced $2.59 million of autocallable contingent coupon equity-linked securities due Dec. 12, 2025 linked to the iShares 20+ Year Treasury Bond ETF, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid monthly, if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of each asset is greater than or equal to its initial level on any monthly valuation date starting after six months.
If the worst performing asset 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 asset 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 assets: | iShares 20+ Year Treasury Bond ETF, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $2,590,000
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| Maturity: | Dec. 12, 2025
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| Coupon: | 8.5% annual rate, paid monthly if the worst performing asset 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 asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | Automatically at par if the closing level of each asset is greater than or equal to its initial level on any monthly valuation date starting after six months
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| Initial levels: | $96.62 for Treasury, 1,968.035 for index, $64.47 for Utilities
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| Coupon barriers: | $67.634 for Treasury, 1,377.625 for index, $45.129 for Utilities, 70% of initial levels
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| Final barriers: | $67.634 for Treasury, 1,377.625 for index, $45.129 for Utilities, 70% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.375%
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| Cusip: | 17291TYX0
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