Published on 6/12/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.63 million buffered digital securities on S&P 500
By Marisa Wong
Los Angeles, June 12 – Citigroup Global Markets Holdings Inc. priced $3,625,000 of 0% buffered digital securities due Jan. 11, 2022 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.
If the final level of the index is greater than or equal to its buffer level, 85% of its initial level, the payout at maturity will be par plus 9.69%. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
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: | Buffered digital securities
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Underlying index: | S&P 500 index
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Amount: | $3,625,000
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Maturity: | Jan. 11, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to 85% of its initial level, par plus 9.69%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial index level: | 3,029.73
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Pricing date: | May 28
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Settlement date: | June 4
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.51%
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Cusip: | 17328VN89
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