Published on 5/10/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $745,000 barrier securities linked to S&P 500
By Kiku Steinfeld
Chicago, May 11 – Citigroup Global Markets Holdings Inc. priced $745,000 of 0% barrier securities due April 29, 2025 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 1.16 times any index gain. If the index falls by up to 25%, the payout will be par. Otherwise, investors will be fully exposed to the index decline.
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: | Barrier securities
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Underlying index: | S&P 500
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Amount: | $745,000
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Maturity: | April 29, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.16 times any index gain; par if index falls by up to 25%; otherwise, full exposure to losses
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Initial level: | 2,836.74
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Barrier level: | 2,127.555, 75% of initial level
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Pricing date: | April 24
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Settlement date: | April 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17328VJ92
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