Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $585,000 buffered notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 1 – Citigroup Global Markets Holdings Inc. priced $585,000 of 0% buffered notes due Oct. 29, 2021 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 2 times any index gain, capped at par plus 15.7%.
Investors will receive par if the index falls by up to 10% and will lose 1.111% per 1% drop beyond 10%.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered notes
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Underlying index: | S&P 500
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Amount: | $585,000
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Maturity: | Oct. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 15.7%; par if the index falls by up to 10%; 1.1111% loss per 1% drop beyond 10%
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Initial index level: | 2,878.48
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Buffer level: | 2,590.632, 90% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17328VMJ6
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