Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $11.93 million buffered notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 29 – Citigroup Global Markets Holdings Inc. priced $11.93 million of 0% buffered notes due July 8, 2021 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 initial level, the payout at maturity will be par plus 300% of the index return, subject to a maximum settlement amount of $1,159 per $1,000 principal amount of notes. Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it may declines beyond 15%.
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: | Buffered notes
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Underlying index: | S&P 500
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Amount: | $11.93 million
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Maturity: | July 8, 2021
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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 initial level, par plus 300% of index return, subject to maximum settlement amount of $1,159 per $1,000 principal amount of notes; par if index declines by 15% or less; 1.1765% loss for every 1% that index declines beyond 15%
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Initial index level: | 2,945.64
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Pricing date: | May 3
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Settlement date: | May 10
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.2%
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Cusip: | 17326YR99
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