Published on 4/10/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million contingent coupon equity linked autocalls on ETFs, index
New York, April 10 – Citigroup Global Markets Holdings Inc. priced $1.05 million of autocallable contingent coupon equity linked securities due April 3, 2029 linked to the Energy Select Sector SPDR Fund, 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 8.35%, 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 semiannual valuation date starting March 28, 2025.
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: | Energy Select Sector SPDR Fund, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $1,051,000
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| Maturity: | April 3, 2029
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| Coupon: | 8.35%, 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: | Automatically at par if the closing level of each asset is greater than or equal to its initial level on any semiannual valuation date starting March 28, 2025
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| Initial levels: | $94.41 for Energy Select Sector SPDR Fund, 2,124.547 for Russell 2000 index, $65.65 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | $66.087 for Energy Select Sector SPDR Fund, 1,487.183 for Russell 2000 index, $45.955 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Final barriers: | $66.087 for Energy Select Sector SPDR Fund, 1,487.183 for Russell 2000 index, $45.955 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17291LKM6
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