Published on 8/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $57,000 buffer securities linked to Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $57,000 of 0% buffer securities due Aug. 5, 2025 linked to the S&P 500 index and the Dow Jones industrial average, 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 10%, the payout will be par.
Investors will be exposed to declines in the laggard index 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: | Buffer securities
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| Underlying index: | S&P 500 index, Dow Jones industrial average
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| Amount: | $57,000
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 120% of any positive return of laggard index; par if laggard index falls by up to 10%; exposure to any losses of laggard index beyond 10%
|
| Initial levels: | 26,428.32 for Dow, 3,271.12 for S&P
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| Buffer levels: | 23,785.488 for Dow, 2,944.008 for S&P, 90% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.13%
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| Cusip: | 17328XAB2
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