Published on 10/27/2017 in the Prospect News Structured Products Daily.
New Issue: Citi sells $810,000 enhanced barrier digital plus notes on SPDR S&P 500 ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – Citigroup Global Markets Holdings Inc. priced $810,000 of 0% enhanced barrier digital plus securities due Oct. 28, 2022 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund finishes at or above the barrier price, 80% of the initial price, the payout at maturity will be par plus the greater of the fund return and 18%. Otherwise, investors will receive a number of ETF shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Enhanced barrier digital plus securities
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Underlying fund: | SPDR S&P 500 ETF trust
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Amount: | $810,000
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Maturity: | Oct. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund finishes at or above the barrier price, par plus the greater of the fund return and 18%; otherwise, 3.91711 ETF shares or, at the issuer’s option, the cash equivalent
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Initial price: | $255.29
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Barrier price: | $204.232, 80% of initial price
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Pricing date: | Oct. 25
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Settlement date: | Oct. 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17324XDL1
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