Published on 12/10/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $386,000 buffer securities tied to S&P 500 index
By Sarah Lizee
Olympia, Wash., Dec. 10 – Citigroup Global Markets Holdings Inc. priced $386,000 of 0% buffer securities due Dec. 3, 2020 linked to 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 150% of any index gain, subject to a maximum payout of par plus 20%.
Investors will receive par if the index falls by up to the buffer amount of 15% and will lose 1% for every 1% that the index declines beyond the 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 index: | S&P 500
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Amount: | $386,000
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Maturity: | Dec. 3, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, subject to maximum payout of par plus 20%; par if the index falls by up to 15%; 1% loss for every 1% decline beyond the 15% buffer
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Initial level: | 2,760.17
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Buffer level: | 2,346.145, 85% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17326YPE0
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