Published on 9/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 buffer securities linked to four stocks
By Kiku Steinfeld
Chicago, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% buffer securities due Oct. 14, 2021 linked to Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., 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 107.6% of any positive return of the laggard stock.
If the laggard stock falls by up to 20%, the payout will be par.
Investors will be exposed to declines in the laggard stock beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying stock: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
|
| Amount: | $500,000
|
| Maturity: | Oct. 14, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 107.6% of any positive return of laggard stock; par if laggard stock falls by up to 20%; exposure to any losses of laggard stock beyond 20%
|
| Initial levels: | $1,556.96 for Alphabet, $3,268.61 for Amazon, $117.32 for Apple, $211.29 for Microsoft
|
| Buffer levels: | $1,245.568 for Alphabet, $2,614.888 for Amazon, $93.856 for Apple, $169.032 for Microsoft, 80% of initial levels
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.22%
|
| Cusip: | 17328WC63
|
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