Published on 8/29/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.29 million geared buffer securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $10.29 million of 0% geared buffer securities due March 4, 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.
The payout at maturity will be par plus double any index gain, up to a maximum return of 19.8%.
Investors will receive par if the index falls by up to 5% and will lose 1.05.2632% per 1% drop beyond 5%.
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: | Geared buffer securities
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Underlying index: | S&P 500
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Amount: | $10,286,000
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Maturity: | March 4, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of index return if index return is positive, subject to 19.8% cap; par if index declines by up to 5%; 1.05.2632% loss for every 1% that index declines beyond 5%
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Initial index level: | 2,878.38
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Buffer level: | 2,734.461, 95% of initial level
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Pricing date: | Aug. 27
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Settlement date: | Sept. 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17327TKZ8
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