Published on 8/29/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.53 million geared buffer securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $11.53 million of 0% geared buffer securities due Dec. 2, 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.
The payout at maturity will be par plus double any index gain, up to a maximum return of 16.5%.
Investors will receive par if the index falls by up to 5% and will lose 1.05.2632% per 1% drop beyond 5%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Geared buffer securities
|
| Underlying index: | S&P 500
|
| Amount: | $11,533,000
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| Maturity: | Dec. 2, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of index return if index return is positive, subject to 16.5% cap; par if index declines by up to 5%; 1.05.2632% loss for every 1% that index declines beyond 5%
|
| Initial index level: | 2,878.38
|
| Buffer level: | 2,734.461, 95% of initial level
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17327TSX5
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