Published on 7/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.88 million buffer securities linked to Dow, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, July 14 – Citigroup Global Markets Holdings Inc. priced $1.88 million of 0% buffer securities due July 3, 2025 linked to the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 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 120% of any positive return of the laggard index.
If the laggard index falls by up to 25%, the payout will be par.
Investors will be exposed to declines in the laggard index beyond 25%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
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| Underlying index: | Nasdaq-100 index, S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,875,000
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| Maturity: | July 3, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 120% of any positive return of laggard index; par if laggard index falls by up to 25%; exposure to any losses of laggard index beyond 25%
|
| Initial levels: | 3,100.29 for S&P, 10,156.85 Nasdaq and 25,812.88 for Dow
|
| Buffer levels: | 2,325.218 for S&P, 7,617.638 Nasdaq 19,359.66 for Dow, 75% of initial levels
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17328VZ45
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