Published on 8/15/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.36 million buffer notes linked to Dow industrials
By Angela McDaniels
Tacoma, Wash., Aug. 15 – Citigroup Global Markets Holdings Inc. priced $3.36 million of 0% buffer securities due March 18, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return of 17%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The note are guaranteed by Citigroup Inc.
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: | Dow Jones industrial average
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Amount: | $3,358,000
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Maturity: | March 18, 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 initial index level, par plus index return, subject to 17% maximum return; par if index declines by 15% or less; 1% loss for every 1% that index declines beyond 15%
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Initial level: | 25,907.37
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Final buffer value: | 22,021.265, or 85% of initial level
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Strike date: | Aug. 12
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Pricing date: | Aug. 13
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Settlement date: | Aug. 16
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17327TYL4
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