Published on 5/3/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.52 million barrier digital plus notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $1.52 million of barrier digital plus securities due Oct. 31, 2019 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.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of the gain and the fixed return of 17%.
If the index falls but finishes above the 80% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Gurantor: | Citigroup Inc.
|
| Issue: | Barrier digital plus securities
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| Underlying index: | S&P 500
|
| Amount: | $1,521,000
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| Maturity: | Oct. 31, 2019
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| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If final index level is greater than or equal to initial, par plus greater of index return and 17%; if index falls by up to 20%, par; otherwise, full exposure to index’s decline from initial level
|
| Initial index level: | 2,075.81
|
| Barrier level: | 1,660.648, 80% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17324C2P0
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