Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.37 million geared buffer securities linked to S&P 500
By Sarah Lizee
Olympia, Wash., March 30 – Citigroup Global Markets Holdings Inc. priced $1.37 million of 0% geared buffer securities due May 25, 2022 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 triple any index gain, up to a maximum return of 40%.
Investors will receive par if the index falls by up to 15% and will lose 1.176471% per 1% drop beyond 15%.
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: | Geared buffer securities
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Underlying index: | S&P 500
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Amount: | $1,365,000
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Maturity: | May 25, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of index return if index return is positive, subject to 40% cap; par if index declines by up to 15%; 1.176471% loss for every 1% that index declines beyond 15%
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Initial index level: | 2,409.39
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Buffer level: | 2,047.982, 85% of initial level
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Pricing date: | March 20
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Settlement date: | March 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17328V5T3
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