Published on 10/23/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.5 million buffer securities linked to Nasdaq-100
By Kiku Steinfeld
Chicago, Oct. 23 – Citigroup Global Markets Holdings Inc. priced $3.5 million of 0% buffer securities due Oct. 28, 2021 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 200% of the index return, capped at par plus 21%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
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: | Buffer securities
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Underlying index: | Nasdaq-100 index
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Amount: | $3,500,000
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Maturity: | Oct. 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 200% of index return, capped at par plus 21%; par if index declines by 15% or less; 1% loss for every 1% that index declines beyond 15%
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Initial level: | 11,985.36
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Buffer level: | 10,187.556, 85% of initial level
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Pricing date: | Oct. 15
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Settlement date: | Oct. 19
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.1%
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Cusip: | 17328WUW6
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