Citigroup to price barrier digital plus securities linked to S&P 500

By Toni Weeks

San Luis Obispo, Calif., Dec. 8 – Citigroup Inc. plans to price 0% barrier digital plus securities due Dec. 27, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and the fixed return amount, which is expected to be 25% to 28% and will be set at pricing.

If the final index level is less than the initial level but greater than or equal to the barrier level, 80% of the initial level, the payout will be par.

If the index finishes below the barrier level, investors will be fully exposed to the index’s decline.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Dec. 22.

The Cusip number is 1730T03P2.

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