Citigroup plans five-year buffered securities with no cap tied to Dow

By Susanna Moon

Chicago, July 12 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Aug. 2, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The payout at maturity will be par plus 105% to 115% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to the 15% buffer and will lose 1% for every 1% decline beyond the buffer.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 28.

The Cusip number is 17324C6K7.

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