Published on 9/20/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $750,000 enhanced barrier digital notes on two ETFs
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – Citigroup Global Markets Holdings Inc. priced $750,000 of 0% enhanced barrier digital securities due March 19, 2020 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final level of the lesser-performing ETF is greater than or equal to its barrier level, 75% of its initial level, the payout at maturity will be par plus 19.5%. Otherwise, investors will be fully exposed to the decline of the lesser-performing ETF from its initial level.
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 barrier digital securities
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Underlying ETFs: SPDR S&P Oil & Gas Exploration & Production, VanEck Vectors Gold Miners
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Amount: | $750,000
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Maturity: | March 19, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of the lesser-performing ETF is greater than or equal to its barrier level, par plus 19.5%; otherwise, investors will be fully exposed to the decline of the lesser-performing ETF from its initial level
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Initial levels: | $41.33 for Oil and Gas, $17.98 for Gold
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Barrier levels: | $30.998 for Oil and Gas, $13.485 for Gold; 75% of initial levels
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Pricing date: | Sept. 14
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Settlement date: | Sept. 19
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17324XFZ8
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