Published on 5/6/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.3 million buffer securities linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 6 – Citigroup Global Markets Holdings Inc. priced $4.3 million of 0% buffer securities due April 29, 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 final index level is greater than or equal to the initial level, the payout at maturity will be par plus the index return. Investors will receive par if the index declines by 22% or less and will lose 1% for every 1% decline beyond 22%.
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: | Buffer securities
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Underlying index: | S&P 500
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Amount: | $4,304,000
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Maturity: | April 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus return; par if index declines by 22% or less; 1% loss for every 1% drop beyond 22%
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Initial index level: | 2,091.70
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Pricing date: | April 26
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Settlement date: | April 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17324C2L9
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