Published on 5/13/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $920,000 of buffered digital notes on Qualcomm
Chicago, May 13 – Citigroup Global Markets Holdings Inc. priced $920,000 of 0% buffered digital securities due May 13, 2021 linked to the common stock of Qualcomm Inc., 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 20%, the payout at maturity will be par of $10,000 plus the fixed return of 12.1%. Otherwise, investors will receive 164.51698 Qualcomm 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: | Qualcomm Inc.
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| Amount: | $920,000
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| Maturity: | May 13, 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 20%, par plus 12.1%; otherwise, 164.51698 shares
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| Initial level: | $75.98
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| Buffer level: | $60.784, 80% of initial level
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| Final share price: | Average of closing share prices on five trading days ending May 10, 2021
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| Strike date: | April 27
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| Pricing date: | April 28
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| Settlement date: | May 1
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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: | 17328VS84
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