Citigroup to price buffered digital plus securities linked to Dow

By Angela McDaniels

Tacoma, Wash., Nov. 6 – Citigroup Inc. plans to price 0% buffered digital plus securities due Nov. 30, 2021 linked to the Dow Jones industrial average, 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 contingent minimum return amount, which is expected to be 40% to 45% and will be set at pricing.

If the final index level is less than the initial level by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Nov. 24.

The Cusip number is 17323P553.

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