Published on 8/13/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $15.19 million contingent absolute return notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 13 – Citigroup Global Markets Holdings Inc. priced $15.19 million of 0% contingent absolute return market-linked notes due Feb. 13, 2020 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.
A knock-out event will occur if the intra-day level of the index at any time on any trading during the life of the notes is less than the 82.7% downside knock-out level or greater than the 117.3% upside knock-out level.
If a knock-out event occurs, the payout at maturity will be par.
If a knock-out event does not occur, the payout will be par plus the absolute value of the index return.
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: | Contingent absolute return market-linked notes
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Underlying index: | S&P 500
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Amount: | $15,189,000
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Maturity: | Feb. 13, 2020
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the intra-day level of the index at any time on any trading during the life of the notes is less than the downside knock-out level or greater than the upside knock-out level, par; otherwise, par plus the absolute value of the index return
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Initial level: | 2,857.70
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Upside knock-out level: | 3,352.082, 117.3% of initial level
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Downside knock-out level: | 2,363.318, 82.7% of initial level
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Pricing date: | Aug. 8
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Settlement date: | Aug. 13
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324CYN0
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