Published on 11/11/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $6.95 million equity-linked securities on S&P, Nasdaq
By Taylor Fox
New York, Nov. 11 – Citigroup Global Markets Holdings Inc. priced $6.95 million of equity-linked securities due Oct. 20, 2021 tied to the least performing of the S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 6.4% per year, payable monthly.
If the final level of each index is at least as great as 80% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.25% for each 1% loss in the worse performing index beyond the 20% 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: | Equity-linked securities
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Underlying indexes: | S&P 500 index and Nasdaq-100 index
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Amount: | $6,950,000
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Maturity: | Oct. 20, 2021
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Coupon: | 6.4%, payable monthly
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier, par; otherwise, 1.25% loss for each 1% decline of worse performer beyond 20% buffer
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Initial levels: | 3,488.67 for S&P and 11,985.36 for Nasdaq
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Downside threshold levels: | 2,790.936 for S&P and 9,588.288 for Nasdaq; 80% of initial levels
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Pricing date: | Oct. 15
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Settlement date: | Oct. 20
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17328WWW4
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