Trading Halt on CitiFirst MINIs Linked to Fortescue Metals and Origin Energy Following Stop Loss Triggers

Details on CitiFirst MINI Series Suspended on 3 July 2026

In an update dated 3 July 2026, Citigroup Global Markets Australia Pty Limited confirmed the suspension of two CitiFirst MINI series on the ASX. The affected instruments are FMGKOH, linked to Fortescue Metals Group Ltd, and ORGJOD, linked to Origin Energy Ltd. Both were suspended on the same day, indicating that the underlying share prices reached their respective Stop Loss Trigger Levels during trading on 3 July 2026.

This suspension is an automatic provision within the CitiFirst MINIs’ Terms of Issue. When the underlying price trades at or below the Stop Loss Trigger Level for a MINI Long—or at or above for a MINI Short—the issuer must suspend and ultimately terminate the series. The update does not specify whether FMGKOH and ORGJOD are MINI Long or MINI Short products, but the relationship between the stop loss breach and underlying prices allows market participants to infer this from public data.

Strike Prices and Stop Loss Levels for FMGKOH and ORGJOD

According to the update, FMGKOH, the CitiFirst MINI referencing Fortescue Metals Group Ltd, has a Strike Price and Final Instalment of $15.8857, a Conversion Ratio of 1, and a Stop Loss Level of $18.2800 per Underlying Parcel. The Stop Loss Level being above the Strike Price aligns with a MINI Long structure, where the issuer limits losses as the underlying price declines.

ORGJOD, the CitiFirst MINI referencing Origin Energy Ltd, carries a Strike Price and Final Instalment of $8.9619, also with a Conversion Ratio of 1, and a Stop Loss Level of $10.3100. Both instruments’ Stop Loss Levels were disclosed at issuance as required by the Terms of Issue. The breach of these levels reflects significant price movements in Fortescue Metals and Origin Energy shares on the day.

Stop Loss Trigger Mechanism Under CitiFirst MINI Terms of Issue

The CitiFirst MINI structure incorporates an automatic Stop Loss Trigger mechanism to protect both issuer and holders from unlimited downside risk. If the Underlying Parcel Price trades at or below the Stop Loss Trigger Level (for MINI Longs) or at or above it (for MINI Shorts) during a trading session, a Stop Loss Trigger Event occurs, resulting in immediate suspension of the series.

This feature is standard in leveraged structured products and ensures holders receive a residual cash payment—the Stop Loss Amount—rather than losing their entire investment. The Stop Loss Amount is defined in the Terms of Issue and calculated based on conditions near the trigger event. The update does not disclose the exact Stop Loss Amount for FMGKOH or ORGJOD, as Citi will provide this in the bid displayed from 2pm on the Trading Day following the event.

Temporary Trading Resumption and Stop Loss Trading Close Window

After a Stop Loss Trigger Event, CitiFirst MINIs do not cease trading permanently. Citi must display a bid on the ASX at the Stop Loss Amount starting from 2pm on the Trading Day after the trigger event. This temporary trading window remains open until 4pm the following Trading Day, known as the Stop Loss Trading Close.

This two-day period allows holders to sell their suspended MINIs back to Citi at the Stop Loss Amount, providing liquidity during the otherwise involuntary exit. Holders should contact their financial adviser or CitiFirst at 1300 30 70 70 to confirm timing and settlement details for FMGKOH and ORGJOD.

Outcome for Holders Not Selling During the Trading Window

Some holders may be unable to act within the Stop Loss Trading Close window due to various reasons. The Terms of Issue specify that holders who do not sell their CitiFirst MINI before the Stop Loss Trading Close will automatically receive the Stop Loss Amount within 10 Business Days after the Trading Day following the Stop Loss Trigger Event.

Upon payment, the CitiFirst MINI expires, ending exposure to Fortescue Metals Group or Origin Energy via these instruments. The update does not specify the Stop Loss Amount’s value; holders should refer to the CitiFirst bid on the ASX from 2pm on 4 July 2026 or contact CitiFirst directly.

Significance of Fortescue Metals Group and Origin Energy as Underlyings

Fortescue Metals Group and Origin Energy are prominent ASX-listed companies and actively traded large-cap stocks. Fortescue is a leading Australian iron ore producer, while Origin Energy is a major integrated energy company. The simultaneous Stop Loss Trigger Events suggest notable intraday price volatility on 3 July 2026, though no explanation was provided in the update.

Investors holding other structured products linked to these companies should review their positions given the Stop Loss Levels breached—$18.2800 for Fortescue and $10.3100 for Origin Energy. The immediate impact on the underlying shares was not detailed in the update.

Citigroup Global Markets Australia's Role as Issuer

Citigroup Global Markets Australia Pty Limited, licensed under AFSL 240992 and a Participant of ASX Group and Cboe Australia, issues the CitiFirst suite of structured products, including MINIs, SFIs, Trading Warrants, Turbos, and Instalments. The company manages the lifecycle of these products, including Stop Loss Trigger Events and payments to holders.

The CitiFirst MINI range offers leveraged exposure with built-in risk features such as the Stop Loss mechanism. The update was addressed to Andrew Weaver at ASX Warrants, Sydney, fulfilling issuer notification requirements upon Stop Loss Trigger Events.

Recommended Actions for FMGKOH and ORGJOD Holders

Holders should verify their positions through brokers or advisers and check for direct notifications from Citi regarding the Stop Loss Trigger Event. Given the limited Stop Loss Trading Close window—from 2pm the day after the event to 4pm the following Trading Day—holders wishing to sell at the Stop Loss Amount should act promptly.

Those uncertain about options, Stop Loss Amounts, or timing should contact CitiFirst at 1300 30 70 70. Financial advisers may assist with tax or portfolio considerations. The update does not comment on future CitiFirst MINI issuances referencing Fortescue Metals or Origin Energy.

Investor Awareness on Structured Product Stop Loss Events

Stop Loss Trigger Events in CitiFirst MINIs are common during volatile markets. The simultaneous triggers on Fortescue Metals and Origin Energy MINIs may prompt investors to review Stop Loss Levels on their holdings. Stop Loss Levels are fixed at issuance and do not adjust over the product’s life, unlike traditional stop loss orders.

Sharp intraday price moves, as seen on 3 July 2026, can activate Stop Loss Triggers without holders having the chance to exit at preferred prices. This highlights the importance of monitoring underlying prices and Stop Loss Levels in CitiFirst MINI portfolios.