Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.44 million contingent buffered digital notes linked to S&P
By Angela McDaniels
Tacoma, Wash., March 26 – Citigroup Global Markets Holdings Inc. priced $1.44 million of 0% contingent buffered digital notes due June 24, 2020 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.
If the final index level is greater than or equal to the barrier level, 83% of the initial level, the payout at maturity will be par plus 8%. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent buffered digital notes
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Underlying index: | S&P 500
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Amount: | $1,435,000
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Maturity: | June 24, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to barrier level, par plus 8%; otherwise, 1% loss for every 1% that index declines from initial level
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Initial level: | 2,800.71
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Barrier level: | 2,324.589, 83% of initial level
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Final index level: Average of index’s closing levels on five trading days ending June 19, 2020
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Pricing date: | March 22
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Settlement date: | March 27
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Underwriter: | Citigroup Global Markets Inc.
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.12%
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Cusip: | 17326YL46
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