Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4 million buffer securities linked to equal basket of stocks
By Taylor Fox
New York, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $4 million of 0% buffer securities due Dec. 15, 2021 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of Alteryx, Inc., Amazon.com, Inc., Datadog, Inc., DocuSign, Inc., Dynatrace, Inc., RingCentral, Inc., ServiceNow, Inc., Slack Technologies, Inc., Twilio Inc. and Zoom Video Communications, Inc. each with a 10% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum payout of par plus 17.05%.
Investors will receive par if the basket is flat or falls by up to 10% and will lose 1% for every 1% that the basket declines beyond the 10% buffer.
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: | Buffer securities
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Underlying stocks: | Alteryx, Inc., Amazon.com, Inc., Datadog, Inc., DocuSign, Inc., Dynatrace, Inc., RingCentral, Inc., ServiceNow, Inc., Slack Technologies, Inc., Twilio Inc. and Zoom Video Communications, Inc., each with a 10% weight
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Amount: | $4 million
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Maturity: | Dec. 15, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any basket gain, up to maximum of par plus 17.05%; par if basket is flat or falls by up to 10%; 1% loss for every 1% decline beyond 10% buffer
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Initial index levels: | $109.90 for Alteryx, $3,035.02 for Amazon, $92.60 for Datadog, $198.31 for DocuSign, $34.36 for Dynatrace, $277.01 for RingCentral, $481.28 for ServiceNow, $24.10 for Slack, $266.26 for Twilio and $376.01for Zoom
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Pricing date: | Nov. 10
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Settlement date: | Nov. 16
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.1%
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Cusip: | 17328WQX9
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