Citigroup tweaks fixed return for trigger jump securities on S&P 500

By Marisa Wong

Madison, Wis., May 7 - Citigroup Inc. updated the expected fixed return for its upcoming 0% enhanced trigger jump securities due June 1, 2018 linked to the S&P 500 index, according to an amended 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the trigger level, the payout at maturity will be par of $10 plus the greater of the fixed return amount and the index return. The trigger level will be 65% of the initial index level. The fixed return amount is expected to be 10% to 14% and will be set at pricing. A previous 424B2 filing said the fixed return would range from 11% to 14%.

If the final index level is less than the trigger level, investors will be fully exposed to the index's decline from the initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price May 31 and settle three business days later.

The Cusip number is 173095597.

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