Published on 2/7/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $507,000 of enhanced buffered digital notes on S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 7 – Citigroup Global Markets Holdings Inc. priced $507,000 of 0% enhanced buffered digital securities due Aug. 2, 2023 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 index finishes at or above its initial level or falls by up to 15%, the payout at maturity will be par plus the fixed return of 15%. Otherwise, investors will lose 1% for every 1% that the index 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: | Enhanced buffered digital notes
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Underlying index: | S&P 500
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Amount: | $507,000
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Maturity: | Aug. 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains or it falls by up to 15%, par plus 15%; otherwise, 1% loss per 1% drop beyond 15%
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Initial level: | 3,276.24
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Buffer level: | 85% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.75%
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Cusip: | 17327TY34
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