Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $685,000 buffer securities linked to S&P 500
By Marisa Wong
Los Angeles, April 3 – Citigroup Global Markets Holdings Inc. priced $685,000 of 0% buffer securities due June 30, 2021 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, capped at 15%.
Investors will receive par if the index falls by up to 15% and will lose 1% per 1% drop beyond 15%.
Citigroup Global Markets Inc. is the agent.
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: | S&P 500
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Amount: | $685,000
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Maturity: | June 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 15%; par if index declines by up to 15%; 1% loss for every 1% index decline beyond 15%
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Initial index level: | 2,475.56
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Buffer level: | 2,104.226, 85% of initial level
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Pricing date: | March 25
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Settlement date: | March 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328VHA1
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