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Citigroup Global Markets Australia Pty Limited has announced the cash settlement amounts payable to holders of four CitiFirst MINI Warrant series following Stop Loss Trigger Events affecting products tied to Monadelphous Group, Coles Group, BlueScope Steel, and National Australia Bank. The update, issued on 2 July 2026 and referencing a prior notice dated 1 July 2026, specifies the exact cash amounts per MINI that holders will receive if they do not sell their positions before the Stop Loss Trading Close. This confirmation is a key step for retail and institutional investors in the four impacted series as they approach expiry.
Key Points
- Issuer: CitiFirst MINIs by Citigroup Global Markets Australia Pty Limited (CTW)
- Stop Loss Trigger Events confirmed for four MINI series: MNDKOP, COLKOB, BSLKOA, and NABKOA
- Cash settlement amounts per MINI: MNDKOP $5.65, COLKOB $2.91, BSLKOA $5.17, NABKOA $3.98
- Citi will post a bid at the cash amount from 2pm on the Trading Day after the trigger until 4pm the following Trading Day (Stop Loss Trading Close)
- Holders who do not sell before the Stop Loss Trading Close will receive cash within 10 Business Days after the Trading Day following the trigger
- Investors should monitor the bid window and subsequent settlement payments across all four series
Stop Loss Trigger Events Confirmed for Four CitiFirst MINI Series: MNDKOP, COLKOB, BSLKOA, NABKOA
On 2 July 2026, Citigroup Global Markets Australia Pty Limited confirmed that Stop Loss Trigger Events have occurred in four CitiFirst MINI warrant series listed on the ASX. The affected series correspond to the underlying securities Monadelphous Group Ltd (MNDKOP), Coles Group Ltd (COLKOB), BlueScope Steel Ltd (BSLKOA), and National Australia Bank Ltd (NABKOA). This update follows an initial announcement on 1 July 2026 that disclosed the stop loss events.
CitiFirst MINIs are leveraged financial instruments that track an underlying security’s price. Each MINI includes a Stop Loss Level set above the Strike Price for short (bear) MINIs or below it for long (bull) MINIs. When the underlying price reaches or breaches this level, a Stop Loss Trigger Event occurs, halting normal trading and initiating a cash settlement process. The 2 July update formally confirms the cash amounts payable to holders.
Confirmed Cash Settlement Amounts for Each MINI Series
The notice specifies the cash amount per MINI payable to holders of each series. For MNDKOP, linked to Monadelphous Group Ltd with a strike price of $37.4100 and a Stop Loss Level of $31.8000, the confirmed cash amount is $5.65 per MINI. COLKOB, linked to Coles Group Ltd with a strike price of $19.7024 and Stop Loss Level of $22.6500, will pay $2.91 per MINI.
BSLKOA, tied to BlueScope Steel Ltd with a strike price of $26.0296 and Stop Loss Level of $31.2400, has a cash amount of $5.17 per MINI. NABKOA, linked to National Australia Bank Ltd with a strike price of $32.8989 and Stop Loss Level of $36.8500, will pay $3.98 per MINI. Each series has a conversion ratio of 1, meaning the cash amount corresponds one-to-one with the underlying parcel. These amounts represent what holders will receive either by selling into the Citi bid or via automatic expiry settlement.
Details of the Citi Bid Window for the Four MINI Series
Following a Stop Loss Trigger Event, Citigroup places a bid at the confirmed cash amount starting at 2pm on the Trading Day after the event. This bid remains open until 4pm on the next Trading Day, known as the Stop Loss Trading Close. This limited window allows holders to sell their MINIs on-market at the confirmed cash price.
Holders wishing to realise their cash value promptly can utilise this on-market sale option instead of waiting for automatic settlement. Investors in MNDKOP, COLKOB, BSLKOA, and NABKOA should note the timing of the bid window to act within the available trading hours if desired.
Automatic Settlement Process for Holders Not Selling Before Stop Loss Trading Close
Holders who do not sell their CitiFirst MINIs before 4pm on the Stop Loss Trading Close will receive the confirmed cash amount automatically within 10 Business Days after the Trading Day following the trigger event. The MINI will expire upon payment.
This automatic expiry means holders need not take action to receive their entitlement if they are willing to wait the settlement period. Citigroup will make the payment within this timeframe, after which the MINI warrants cease to exist. This process applies uniformly to all four series.
Strike Prices and Stop Loss Levels That Defined Trigger Points
Each series has fixed strike prices and stop loss levels established at issuance. MNDKOP’s strike price is $37.4100 with a Stop Loss Level of $31.8000. COLKOB’s strike price is $19.7024 and Stop Loss Level $22.6500. BSLKOA’s strike price is $26.0296 with a Stop Loss Level of $31.2400. NABKOA’s strike price is $32.8989 and Stop Loss Level $36.8500.
The stop loss levels relative to strike prices are designed to protect holders by ensuring positive cash amounts upon termination, preventing losses beyond the initial Investment.
Significance of Simultaneous Stop Loss Triggers Across Diverse Sectors
The simultaneous triggering of stop loss events in four MINI series tied to companies in engineering services, supermarket retail, steel Manufacturing, and banking sectors reflects broad price movements in their underlying ASX-listed securities around 1 July 2026. The company’s update is procedural and does not comment on market conditions causing the triggers. Market participants should consult independent data for detailed price movement analysis.
The confirmed positive cash amounts—$5.65, $2.91, $5.17, and $3.98 respectively—indicate that the underlying parcel values at trigger time were sufficient to yield positive returns after strike price obligations.
Citigroup Global Markets Australia’s Role as Issuer and Market Maker
Citigroup Global Markets Australia Pty Limited (ABN 64 003 114 832, AFSL 240992) acts as both issuer of the CitiFirst MINI products and counterparty for settlement payments. As a participant in ASX Group and Cboe Australia, Citigroup operates as a listed warrant issuer and market maker during the Stop Loss Trading Close bid window.
The formal confirmation letter was addressed to Andrew Weaver at ASX Warrants, Level 6, 20 Bridge Street, Sydney, following standard notification protocols for structured warrants. This process ensures transparency for all Market Participants and holders. No additional commentary on the broader CitiFirst product range was provided.
Important Timeline for Holders of MNDKOP, COLKOB, BSLKOA, and NABKOA
Key timeline events include the Stop Loss Trigger Event occurring around 1 July 2026, Citi’s bid opening at 2pm on the Trading Day after the trigger, and the Stop Loss Trading Close at 4pm the following Trading Day. Holders who do not sell during this window will receive settlement within 10 Business Days after that Trading Day.
Since the confirmation was released on 2 July 2026, holders should carefully track trading dates to determine if the bid window is still open and anticipate when the settlement period will end.
Market and Share Price Impact Following Stop Loss Confirmation
The immediate impact on the share prices of Monadelphous Group, Coles Group, BlueScope Steel, and National Australia Bank was not evident from public sources. The announcement pertains solely to CitiFirst MINI warrants and is not a market-sensitive disclosure for the underlying companies. The stop loss events reflect prior market price movements.
For CitiFirst MINI investors, the cash amount confirmation removes valuation uncertainty for these series. The final cash amounts—$5.65 for MNDKOP, $2.91 for COLKOB, $5.17 for BSLKOA, and $3.98 for NABKOA—represent the ultimate economic outcome. No information was provided regarding future CitiFirst MINI issuances or product pipelines.
