Published on 5/11/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $280,000 of buffered digital notes on Amazon
By Sarah Lizee
Olympia, Wash., May 11 – Citigroup Global Markets Holdings Inc. priced $280,000 of 0% buffered digital securities due May 21, 2021 linked to the common stock of Amazon.com, 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 15%, the payout at maturity will be par plus the fixed return of 8.3%. Otherwise, investors will receive 5.07581 Amazon 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: | Amazon.com, Inc.
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| Amount: | $280,000
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| Maturity: | May 21, 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 15%, par plus 8.3%; otherwise, 5.07581 Amazon shares
|
| Initial price: | $2,317.80
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| Buffer price: | $1,970.130, 85% of initial price
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| Final price: | Average of closing share prices for five trading days ending May 18, 2021
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| Strike date: | May 5
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| Pricing date: | May 6
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| Settlement date: | May 11
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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: | 17328VTH3
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