Published on 2/13/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.33 million buffered notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 13 – Citigroup Global Markets Holdings Inc. priced $1.33 million of 0% buffered notes due Nov. 9, 2018 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 return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement amount of $1,183.75 per $1,000 principal amount. If the index return is zero or negative but not less than negative 12.5%, the payout will be par. Otherwise, investors will lose 1.1429% for every 1% decline beyond 12.5%.
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: | Buffered notes
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Underlying index: | S&P 500
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Amount: | $1,328,000
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Maturity: | Nov. 9, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 150% of the index return, capped at 18.375%; if the index return is zero or negative but not less than negative 12.5%, the payout will be par; otherwise, 1.1429% loss for every 1% decline beyond 12.5%
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Initial level: | 2,292.56
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Buffer level: | 2,005.99, 87.5% of initial level
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Pricing date: | Feb. 6
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Settlement date: | Feb. 13
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Agent: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17324CEM4
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