Published on 2/10/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $952,000 contingent buffered digital plus notes linked to Stoxx
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Citigroup Global Markets Holdings Inc. priced $952,000 of 0% contingent buffered digital plus notes due Aug. 4, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and 11%. If the index falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level
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: | Contingent buffered digital plus notes
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Underlying index: | Euro Stoxx 50
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Amount: | $952,000
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Maturity: | Aug. 4, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus greater of index return and 11% ;par if index falls by up to 25%; otherwise, 1% loss for every 1% that index declines from initial level
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Initial level: | 3,640.91
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Barrier level: | 2,730.683, 75% of initial level
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Final index level: | Average of index’s closing levels on five trading days ending July 30, 2021
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Underwriter: | Citigroup Global Markets Inc.
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 17327T2U9
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