Published on 1/4/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.53 million dual directional buffer notes on stock basket
By Kiku Steinfeld
Chicago, Jan. 4 – Citigroup Global Markets Holdings Inc. priced $3.53 million of 0% dual directional buffer securities due Jan. 5, 2022 linked to a basket of technology sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Facebook, Inc., Amazon.com, Inc., Apple Inc., Microsoft Corp. and Alphabet Inc., each with a 20% weight.
If the final basket value is greater than its initial level, the payout at maturity will be par plus the basket return, subject to a maximum upside return of 12.1%.
If the final basket value falls but finishes above 90% of its initial level, the payout will be par plus the absolute value of the basket return.
Otherwise, investors will be exposed to any losses of the basket return beyond the 10% buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional buffer securities
|
| Underlying basket: | Facebook, Inc., Amazon.com, Inc., Apple Inc., Microsoft Corp. and Alphabet Inc., equally weighted
|
| Amount: | $3,530,000
|
| Maturity: | Jan. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level finishes above initial level, par plus basket return, subject to maximum upside return of 12.1%; par plus absolute value of basket return for decline up to 10%; otherwise exposure to losses of basket return beyond 10% buffer
|
| Initial levels: | $1,757.76 for Alphabet, $3,322.00 for Amazon, $134.87 for Apple, $276.78 for Facebook and $224.15 for Microsoft
|
| Buffer values: | 90% of initial levels
|
| Pricing date: | Dec. 29
|
| Settlement date: | Jan. 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17328YGK4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
