Published on 3/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $433,000 11.5% callable contingent coupon equity-linked notes on funds
Chicago, March 18 – Citigroup Global Markets Holdings Inc. priced $433,000 of callable contingent coupon equity-linked securities due March 5, 2026 linked to the worst performing of the Consumer Discretionary Select Sector SPDR Fund, Financial Select Sector SPDR Fund and SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5% paid monthly if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date.
The securities may be called starting June 3 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing ETF ends at or above its 60% 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: | Consumer Discretionary Select Sector SPDR Fund, Financial Select Sector SPDR Fund and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $433,000
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| Maturity: | March 5, 2026
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| Coupon: | 11.5% annual rate, paid monthly if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
|
| Call: | Starting June 3 at par and on any subsequent monthly review date
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| Initial levels: | $185.02 for consumer, $40.29 for financial, $142.28 for oil
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| Coupon barriers: | $111.012 for consumer, $24.174 for financial, $85.368 for oil, 60% of initial levels
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| Final barriers: | $111.012 for consumer, $24.174 for financial, $85.368 for oil, 60% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17291LQD0
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