Published on 3/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.04 million buffer securities linked to S&P
By Kiku Steinfeld
Chicago, March 17 – Citigroup Global Markets Holdings Inc. priced $3.04 million of 0% buffer securities due March 11, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus any index gain, up to a maximum payout of par plus 7.5%.
Investors will receive par if the index falls by up to 20% and will lose 1% per 1% drop beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,040,000
|
| Maturity: | March 11, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, up to a maximum payout of par plus 7.5%; par if index falls by up to buffer level; 1% loss per 1% drop beyond buffer
|
| Initial index level: | 2,972.37
|
| Buffer level: | 2,377.896, 80% of initial level
|
| Pricing date: | March 6
|
| Settlement date: | March 11
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.85%
|
| Cusip: | 17328VCV0
|
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