Published on 7/11/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $926,700 capped buffer gears on basket of six indexes
By Marisa Wong
Morgantown, W.Va., July 11 – Citigroup Global Markets Holdings Inc. priced $926,700 of 0% capped buffer gears due Dec. 31, 2019 linked to a basket of six indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 20% weight, the FTSE 100 index with a 20% weight, the S&P/ASX 200 index with a 7.5% weight, the Swiss Market index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus double the basket return, subject to a maximum payout of par plus 29%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% decline beyond the 10% buffer.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Capped buffer gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (20% weight), FTSE 100 index (20% weight), S&P/ASX 200 index (7.5% weight), Swiss Market index (7.5% weight) and Hang Seng index (5% weight)
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| Amount: | $926,700
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| Maturity: | Dec. 31, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2 times any basket gain, subject to a maximum gain of 29%; par if basket falls by up to 10%; otherwise, exposure to any losses beyond 10%
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| Initial index levels: | 3,397.13 for Stoxx, 22,271.77 for Nikkei, 7,621.69 for FTSE, 6,195.859 for S&P/ASX, 8,504.50 for Swiss Market, 28,356.26 for Hang Seng
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| Pricing date: | June 27
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| Settlement date: | June 29
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17326K791
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