Published on 5/13/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $120,000 of buffered digital notes on Disney
By Kiku Steinfeld
Chicago, May 13 – Citigroup Global Markets Holdings Inc. priced $120,000 of 0% buffered digital securities due May 25, 2021 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the stock 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 8.5%. Otherwise, investors will receive 111.43924 Disney shares.
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: | Buffered digital notes
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Underlying stock: | Walt Disney Co.
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Amount: | $120,000
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Maturity: | May 25, 2021
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Coupon: | 0%
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Price: | Par of $10,000
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Payout at maturity: | If stock gains or it falls by up to 15%, par plus 8.5%; otherwise, 111.43924 shares
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Initial level: | $105.57
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Buffer level: | $89.735, 85% of initial level
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Strike date: | May 7
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Pricing date: | May 8
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Settlement date: | May 13
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Underwriter: | Citigroup Global Markets Inc.
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 17328VXB1
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