Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.03 million buffer securities linked to index basket
By Sarah Lizee
Olympia, Wash., Dec. 23 – Citigroup Global Markets Holdings Inc. priced $1.03 million of 0% buffer securities due Dec. 5, 2024 linked to an unequally weighted basket of indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the S&P 500 index with a 45.91% weight, the S&P MidCap 400 index with a 10.72% weight, the iShares MSCI EAFE Small-Cap ETF with a 9.56% weight, the MSCI Emerging Markets index with a 9.09% weight, the Euro Stoxx 50 index with a 8.71% weight, the Russell 2000 index with a 5.36% weight, the Topix index with a 5.23% weight, the FTSE 100 index with a 3.87% weight and the S&P/ASX 200 index with a 1.55% weight.
The payout at maturity will be par plus 119% of any basket gain, up to a maximum payout of par plus 50%.
Investors will receive par if the basket is flat or falls by up to 20% and will lose 1% for every 1% that the basket declines beyond the 20% 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 (45.91% weight), S&P MidCap 400 index (10.72% weight), iShares MSCI EAFE Small-Cap ETF (9.56% weight), MSCI Emerging Markets index (9.09% weight), Euro Stoxx 50 index (8.71% weight), Russell 2000 index (5.36% weight), Topix index (5.23% weight), FTSE 100 index (3.87% weight) and S&P/ASX 200 index (1.55% weight)
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| Amount: | $1,025,000
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| Maturity: | Dec. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 119% of any basket gain, up to maximum of par plus 50%; par if basket is flat or falls by up to 20%; 1% loss for every 1% decline beyond 20% buffer
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| Initial index levels: | 3,113.87 for S&P 500 index, 1,995.86 for S&P MidCap, $60.85 for iShares MSCI EAFE, 1,040.22 for MSCI Emerging Markets, 3,626.66 for Euro Stoxx, 1,607.579 for Russell, 1,714.49 for Topix, 7,285.94 for FTSE and 6,862.267 for S&P/ASX
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327TEJ1
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