Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.51 million 14.15% callable contingent coupon notes on ETFs
Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $1.51 million of callable contingent coupon equity linked securities due Jan. 8, 2026 linked to the worst performing of the Energy Select Sector SPDR Fund, SPDR S&P Biotech ETF and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.15% 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 April 5 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: | Energy Select Sector SPDR Fund, SPDR S&P Biotech ETF and Utilities Select Sector SPDR Fund
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Amount: | $1,514,000
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Maturity: | Jan. 8, 2026
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Coupon: | 14.15% annual rate, paid monthly if the worst performing ETF closes at or above its 60% 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 April 5 at par and on any subsequent monthly review date
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Initial levels: | $84.68 for energy, $89.30 for biotech, $64.53 for utilities
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Coupon barriers: | $50.808 for energy, $53.580 for biotech, $38.718 for utilities, 60% of initial levels
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Final barriers: | $50.808 for energy, $53.580 for biotech, $38.718 for utilities, 60% of initial levels
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Pricing date: | Jan. 5
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Settlement date: | Jan. 10
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17291TRM2
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