Published on 6/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.26 million buffer securities linked to index basket
By Wendy Van Sickle
Columbus, Ohio, June 26 – Citigroup Global Markets Holdings Inc. priced $5.26 million of 0% buffer securities due June 24, 2021 linked to an unequally weighted basket of the S&P 500 index with a 70% weight, the Russell 2000 index with a 15% weight and the Nasdaq-100 index with a 15% weight, 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 200% of any basket gain, up to a maximum payout of par plus 19%. Investors will receive par if the basket is flat or falls by up to 10% and will lose 1% for every 1% that the basket declines beyond the 10% buffer.
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 basket: | S&P 500 index (70% weight), Russell 2000 index (15% weight), Nasdaq-100 index (15% weight)
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Amount: | $5,264,000
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Maturity: | June 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any basket gain, up to maximum of par plus 19%; par if basket is flat or falls by up to 10%; 1% loss for every 1% decline beyond 10% buffer
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Initial index levels: | 2,954.18 for S&P, 7,738.055 for Nasdaq, 1,563.495 for Russell
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Pricing date: | June 20
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Settlement date: | June 25
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.7%
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Cusip: | 17327TAD8
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