Published on 2/20/2024 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.28 million callable contingent coupon equity linked securities on ETFs
New York, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $1.28 million of callable contingent coupon equity linked securities due Aug. 14, 2025 linked to the SPDR S&P Regional Banking ETF, the Utilities Select Sector SPDR Fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, 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 at par on any monthly review date starting May 9.
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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying ETFs: | SPDR S&P Regional Banking ETF, Utilities Select Sector SPDR Fund and VanEck Vectors Gold Miners ETF
|
| Amount: | $1.28 million
|
| Maturity: | Aug. 14, 2025
|
| Coupon: | 13%, paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Call option: | At par on any monthly review date starting May 9
|
| Initial levels: | $47.87 for SPDR S&P Regional Banking ETF, $60.27 for Utilities Select Sector SPDR Fund, $26.97 for VanEck Vectors Gold Miners ETF
|
| Coupon barriers: | $33.509 for SPDR S&P Regional Banking ETF, $42.189 for Utilities Select Sector SPDR Fund, $18.879 for VanEck Vectors Gold Miners ETF, 70% of initial levels
|
| Final barriers: | $23.935 for SPDR S&P Regional Banking ETF, $30.135 for Utilities Select Sector SPDR Fund, $13.485 for VanEck Vectors Gold Miners ETF, 50% of initial levels
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17291L7F6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
