Published on 6/19/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.46 million buffered notes on index basket
By Wendy Van Sickle
Columbus, Ohio, June 19 – Citigroup Global Markets Holdings Inc. priced $2.46 million of 0% buffered notes due June 16, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum settlement amount of $1,238.50 per $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for each 1% decline 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: | Buffered notes
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Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $2,458,000
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Maturity: | June 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 1.5 times the basket gain, capped at $1,238.50 per $1,000 principal amount; if basket falls by up to 10%, par; if basket falls by more than 10%, 1.1111% loss for every 1% decline beyond the buffer
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Initial levels: | 3,153.74 for Stoxx, 1,570.68 for Topix, 6,105.18 for FTSE, 9,796.37 for Swiss and 5,847.813 for S&P/ASX
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Pricing date: | June 12
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Settlement date: | June 19
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17328VRB8
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