Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.93 million 17.8% callable contingent coupon notes on ETFs
New York, Feb. 12 – Citigroup Global Markets Holdings Inc. priced $1.93 million of callable contingent coupon equity linked securities due Feb. 11, 2027 linked to the Energy Select Sector SPDR Fund, SPDR S&P Biotech ETF and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.8% 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 May 7 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: | Energy Select Sector SPDR Fund, SPDR S&P Biotech ETF and SPDR S&P Regional Banking ETF
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| Amount: | $1,933,000
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| Maturity: | Feb. 11, 2027
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| Coupon: | 17.8% 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
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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 7 at par and on any subsequent monthly review date
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| Initial levels: | $83.75 for Energy Select Sector SPDR Fund, $88.07 for SPDR S&P Biotech ETF, $46.85 for SPDR S&P Regional Banking ETF
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| Coupon barriers: | $58.625 for Energy Select Sector SPDR Fund, $61.649 for SPDR S&P Biotech ETF, $32.795 for SPDR S&P Regional Banking ETF, 70% of initial levels
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| Final barriers: | $41.875 for Energy Select Sector SPDR Fund, $44.035 for SPDR S&P Biotech ETF, $23.425 for SPDR S&P Regional Banking ETF, 50% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17291L7M1
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