Citigroup will price buffer securities tied to S&P 500, Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., Aug. 1 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due August 2020 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the worst-performing index finishes at or above its initial level, the payout at maturity will be par plus 130% to 140% of that index’s return, with the exact participation rate to be set at pricing, subject to a maximum payout of $1,450 per $1,000 of notes.

If the worst-performing index falls by up to 20%, the payout at maturity will be par.

Otherwise, investors will be exposed to any declines of the worst-performing index beyond the 20% buffer.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324CLP9) are expected to price on Aug. 25 and settle two business days after pricing.

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