Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.03 million buffer securities tied to Nasdaq, S&P
Chicago, April 8 – Citigroup Global Markets Holdings Inc. priced $2.03 million of 0% buffer securities due March 28, 2022 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 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 200% of any gain of the lesser performing index, subject to a maximum return of par plus 55%.
Investors will receive par if the lesser performing index falls by up to the buffer amount of 10% and will lose 1% for every 1% that the laggard index declines beyond the buffer.
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 indexes: | Nasdaq-100, S&P 500
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Amount: | $2,025,000
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Maturity: | March 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain of the laggard index, subject to a maximum return of par plus 55%; par if the lesser performing index falls by up to buffer level; 1% loss for every 1% decline of laggard index beyond buffer
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Initial levels: | 7,006.917 for Nasdaq, 2,237.40 for S&P
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Buffer levels: | 6,306.225 for Nasdaq, 2,013.660 for S&P; 90% of initial levels
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Pricing date: | March 23
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Settlement date: | March 26
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.9%
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Cusip: | 17328VE48
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