Published on 10/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.72 million enhanced barrier digital plus notes linked to Apple
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – Citigroup Global Markets Holdings Inc. priced $1.72 million of 0% enhanced barrier digital plus securities due Oct. 20, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the final barrier value, 80% of the initial share price, the payout at maturity will be par plus the greater of the stock return and 12%, subject to a maximum return of 20%.
If the final share price is less than the final barrier value, the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Enhanced barrier digital plus securities
|
| Underlying stock: | Apple Inc.
|
| Amount: | $1,723,000
|
| Maturity: | Oct. 20, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to final barrier value, par plus greater of 12% and stock return, subject to maximum return of 20%; if final share price is less than final barrier value, 8.69792 shares per $1,000 principal amount of notes or, at issuer’s option, amount in cash equal to value of those shares
|
| Initial share price: | $114.97
|
| Final barrier value: | $91.976, 80% of initial share price
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324X4M9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
