Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $625,000 bearish barrier digital securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Citigroup Global Markets Holdings Inc. priced $625,000 of 0% bearish barrier digital securities due Jan. 22, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the index finishes at or below 90% of its initial level, the payout at maturity will be par plus 18.85%.
If the index finishes between 90% and 110% of it its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the index, subject to a minimum payout of zero.
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: | Bearish barrier digital securities
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| Underlying index: | S&P 500 index
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| Amount: | $625,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or below 90% of initial level, par plus 18.85%; if final level of index is greater than or equal to 90% of initial level but less than or equal to 110% of initial level, par; otherwise, full inverse exposure to gain of index, subject to a minimum payout of zero
|
| Initial index level: | 3,205.37
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| Digital threshold value: | 2,884.833, 90% of initial level
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| Final barrier value: | 3,525.907, 110% of initial level
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17327T2S4
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