Published on 4/24/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $630,000 buffer securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 24 – Citigroup Global Markets Holdings Inc. priced $630,000 of 0% buffer securities due July 26, 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.
Investors will receive par if the index falls by up to 14% and will lose 1% per 1% drop beyond 14%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
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| Underlying index: | S&P 500
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| Amount: | $630,000
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| Maturity: | July 26, 2021
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus any index gain; par if index declines by up to 14%; 1% loss for every 1% index decline beyond 14%
|
| Initial index level: | 2,736.56
|
| Buffer level: | 2,353.4416, 86% of initial level
|
| Pricing date: | April 21
|
| Settlement date: | April 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328VTX8
|
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