Published on 7/29/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $10.31 million buffered notes linked to S&P 500
By Kiku Steinfeld
Chicago, July 29 – Citigroup Global Markets Holdings Inc. priced $10.31 million of 0% buffered notes due April 13, 2022 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 above its initial level, the payout at maturity will be par plus 300% of the index gain, subject to a maximum settlement amount of $1,150 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
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 index-linked notes
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Underlying index: | S&P 500
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Amount: | $10,307,000
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Maturity: | April 13, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 300% of the index gain, subject to a maximum settlement amount of $1,150 per $1,000 principal amount of notes; par if the index declines by 10% or less; 1.1111% loss for every 1% that it declines beyond 10%
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Initial index level: | 3,235.66
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Pricing date: | July 23
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Settlement date: | July 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.51%
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Cusip: | 17328W5A2
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