Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $700,000 dual directional barrier securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Citigroup Global Markets Holdings Inc. priced $700,000 of 0% dual directional barrier securities due Dec. 31, 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.
If the index finishes at or above the initial level, the payout at maturity will be par plus 75% of the gain, up to a maximum return of 9%.
If the index falls but finishes at or above the 70% barrier level, the payout at maturity will be par plus the absolute value of the index return.
Otherwise, the payout will be par plus the index return, with full exposure to losses.
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: | Dual directional barrier securities
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Underlying index: | S&P 500
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Amount: | $700,000
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Maturity: | Dec. 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above the initial level, par plus 75% of the gain, up to a maximum return of 9%; if the index falls but finishes at or above the barrier level, par plus the absolute value of the index return; otherwise, par plus the index return, with full exposure to losses
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Initial index level: | 3,484.55
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Barrier level: | 2,439.185, 70% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0%
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Cusip: | 17328WDR6
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