Published on 5/8/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $610,000 of buffered digital notes on Home Depot
By Marisa Wong
Los Angeles, May 8 – Citigroup Global Markets Holdings Inc. priced $610,000 of 0% buffered digital securities due May 10, 2021 linked to the class A common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the stock finishes at or above its initial level or falls by up to 20%, the payout at maturity will be par plus the fixed return of 12.2%. Otherwise, investors will receive 61.78331 Home Depot shares.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Buffered digital notes
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| Underlying stock: | Home Depot, Inc. (Symbol: HD)
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| Amount: | $610,000
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| Maturity: | May 10, 2021
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| Coupon: | 0%
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| Price: | Par of $10,000
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| Payout at maturity: | If stock gains, finishes flat or falls by up to 20%, par plus 12.2%; otherwise, 61.22349 shares
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| Initial price: | $204.17
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| Buffer price: | $163.336, 80% of initial price
|
| Final price: | Average of closing share prices for five trading days ending May 5, 2021
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| Strike date: | April 22
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| Pricing date: | April 24
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
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| Cusip: | 17328VPG9
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