Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.37 million geared buffer securities linked to S&P 500
By Sarah Lizee
Olympia, Wash., March 30 – Citigroup Global Markets Holdings Inc. priced $1.37 million of 0% geared buffer securities due May 25, 2022 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 triple any index gain, up to a maximum return of 40%.
Investors will receive par if the index falls by up to 15% and will lose 1.176471% per 1% drop beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Geared buffer securities
|
| Underlying index: | S&P 500
|
| Amount: | $1,365,000
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| Maturity: | May 25, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of index return if index return is positive, subject to 40% cap; par if index declines by up to 15%; 1.176471% loss for every 1% that index declines beyond 15%
|
| Initial index level: | 2,409.39
|
| Buffer level: | 2,047.982, 85% of initial level
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17328V5T3
|
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