Published on 6/3/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.37 million geared buffer securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 3 – Citigroup Global Markets Holdings Inc. priced $10.37 million of 0% geared buffer securities due June 3, 2024 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 1.31 any index gain, up to a maximum return of 52.46%.
Investors will receive par if the index falls by up to 25% and will lose 1% per 1% drop beyond 25%.
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: | Geared buffer securities
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Underlying index: | S&P 500
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Amount: | $10,371,000
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Maturity: | June 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 131% of index return if index return is positive, subject to 52.46% cap; par if index declines by up to 25%; 1% loss for every 1% that index declines beyond 25%
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Initial index level: | 3,044.31
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Buffer level: | 2,283.2325, 75% of initial level
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Pricing date: | May 29
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Settlement date: | June 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0%
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Cusip: | 17328VSE1
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