Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.28 million 12.55% callable contingent notes on ETFs
Chicago, April 12 – Citigroup Global Markets Holdings Inc. priced $1.28 million of callable contingent coupon equity-linked securities due Jan. 21, 2028 linked to the worst performing of the Utilities Select Sector SPDR Fund, VanEck Vectors Gold Miners ETF and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.55% 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 starting July 18, 2024 at par and on any subsequent quarterly 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: | Utilities Select Sector SPDR Fund, VanEck Vectors Gold Miners ETF and iShares Russell 2000 ETF
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| Amount: | $1,275,000
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| Maturity: | Jan. 21, 2028
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| Coupon: | 12.55% annual rate, 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
|
| 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 July 18, 2024 at par and on any subsequent quarterly review date
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| Initial levels: | $61.06 for utilities, $27.59 for gold, $190.60 for Russell ETF
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| Coupon barriers: | $42.742 for utilities, $19.313 for gold, $133.420 for Russell ETF, 70% of initial levels
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| Final barriers: | $30.530 for utilities, $13.795 for gold, $95.300 for Russell ETF, 50% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291TYT9
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