Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.85 million 11.5% callable contingent coupon notes on ETFs
New York, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $2.85 million of callable contingent coupon equity linked securities due Feb. 17, 2028 linked to the SPDR S&P Regional Banking ETF, Utilities Select Sector SPDR Fund and VanEck Vectors Gold Miners 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 50% coupon barrier on the related valuation date.
The securities may be called starting May 14 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 50% 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: | SPDR S&P Regional Banking ETF, Utilities Select Sector SPDR Fund and VanEck Vectors Gold Miners ETF
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| Amount: | $2,852,000
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| Maturity: | Feb. 17, 2028
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| Coupon: | 11.5% paid monthly if the worst performing ETF closes at or above its 50% 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; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Starting May 14 at par and on any subsequent monthly review date
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| Initial levels: | $47.70 for SPDR S&P Regional Banking ETF, $60.29 for Utilities Select Sector SPDR Fund, $26.01 for VanEck Vectors Gold Miners ETF
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| Coupon barriers: | $23.850 for SPDR S&P Regional Banking ETF, $30.145 for Utilities Select Sector SPDR Fund, $13.005 for VanEck Vectors Gold Miners ETF, 50% of initial levels
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| Final barriers: | $23.850 for SPDR S&P Regional Banking ETF, $30.145 for Utilities Select Sector SPDR Fund, $13.005 for VanEck Vectors Gold Miners ETF, 50% of initial levels
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17291LA88
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