Published on 5/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.21 million geared buffer securities tied to S&P 500
By Marisa Wong
Los Angeles, May 4 – Citigroup Global Markets Holdings Inc. priced $3.21 million of 0% geared buffer securities due May 5, 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 2 times any index gain, capped at 20.75%.
Investors will receive par if the index falls by up to 5% and will lose 1.052632% per 1% drop beyond 5%.
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: | Geared buffer securities
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Underlying index: | S&P 500
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Amount: | $3,213,000
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Maturity: | May 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 20.75%; par if index declines by up to 5%; 1.052632% loss for every 1% index decline beyond 5%
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Initial index level: | 2,846.06
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Buffer level: | 2,703.757, 95% of initial level
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Strike date: | April 14
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Pricing date: | April 16
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Settlement date: | April 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17328VR28
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