Published on 11/11/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.23 million buffer securities linked to Dow, S&P
By Taylor Fox
New York, Nov. 11 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 0% buffer securities due Oct. 21, 2025 linked to the S&P 500 index and the Dow Jones industrial average, 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 1.06 times any positive return of the laggard index.
If the laggard index falls by up to 20%, the payout will be par.
Investors will be exposed to declines in the laggard index beyond 20%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,226,000
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| Maturity: | Oct. 21, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.06 times any positive return of laggard index; par if laggard index falls by up to 20%; exposure to any losses of laggard index beyond 20%
|
| Initial levels: | 28,514 for Dow, 3,488.67 for S&P
|
| Buffer levels: | 22,811.20 for Dow, 2,790.936 for S&P, 80% of initial levels
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 21
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328WW87
|
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