Published on 5/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.53 million geared buffer securities tied to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, May 14 – Citigroup Global Markets Holdings Inc. priced $4.53 million of 0% geared buffer securities due Aug. 17, 2021 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 2 times any gain of the least performing index, capped at 23.25%.
Investors will receive par if the laggard index falls by up to 10% and will lose 1.1111% per 1% drop of the laggard index 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: | Geared buffer securities
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Underlying indexes: | S&P 500 index and Dow Jones industrial average
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Amount: | $4,526,000
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Maturity: | Aug. 17, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain of laggard index, capped at 23.25%; par if laggard index declines by up to 10%; 1.1111% loss for every 1% decline of laggard index beyond 10%
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Initial index level: | 2,870.12 for S&P, 23,764.78 for Dow
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Buffer level: | 2,583.108 for S&P, 21,388.302 for Dow, 90% of initial level
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Pricing date: | May 12
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Settlement date: | May 15
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17328VQ78
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