Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2 million barrier securities linked to S&P 500
By Kiku Steinfeld
Chicago, Aug. 4 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% barrier securities due Aug. 1, 2023 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 3 times any index gain, capped at 24.5%. If the index falls by up to 25%, the payout will be par. Otherwise, investors will be fully exposed to the index decline.
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: | Barrier securities
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Underlying index: | S&P 500
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Amount: | $2 million
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Maturity: | Aug. 1, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any index gain, capped at 24.5%; par if index falls by up to 25%; otherwise, full exposure to losses
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Initial index level: | 3,239.41
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Barrier level: | 2,429.558 or 75% of initial level
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Pricing date: | July 27
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Settlement date: | July 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.75%
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Cusip: | 17328W2Z0
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