Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $13.47 million buffer securities linked to index basket
By Sarah Lizee
Olympia, Wash., Dec. 12 – Citigroup Global Markets Holdings Inc. priced $13.47 million of 0% buffer securities due Dec. 1, 2021 linked to an unequally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the Euro Stoxx 50 index with an 18% weight, the Topix index with a 13.5% weight, the FTSE 100 index with a 10% weight, the S&P 500 index with a 50% weight, the Swiss Market index with a 4.5% weight and the S&P/ASX 200 index with a 4% weight.
The payout at maturity will be par plus any basket gain, up to a maximum payout of par plus 16.5%. 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: | Euro Stoxx 50 index (18% weight), Topix index (13.5% weight), FTSE 100 index (10% weight), S&P 500 index (50% weight), Swiss Market index (4.5% weight) and S&P/ASX 200 index (4% weight)
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| Amount: | $13.47 million
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| Maturity: | Dec. 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any basket gain, up to maximum of par plus 16.5%; 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: | 3,705.55 for Stoxx, 1,705.71 for Topix, 7,403.14 for FTSE, 3,140.52 for S&P, 10,506.93 for Swiss, 6,787.53 for S&P/ASX
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17327TEY8
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