Citigroup to price barrier securities linked to SPDR S&P Biotech ETF

By Angela McDaniels

Tacoma, Wash., May 29 – Citigroup Inc. plans to price 0% barrier securities due July 1, 2020 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return that is expected to be 75% to 85% and will be set at pricing.

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

If the final share price is less than the barrier price, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price June 26.

The Cusip number is 17298CBN7.

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