Citigroup plans buffered securities due 2018 with cap tied to S&P 500

By Susanna Moon

Chicago, July 20 – Citigroup Global Markets Holdings Inc. plans to price 0% buffered securities due in 25 to 28 months linked to the S&P 500 index, 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 double any index gain, up to a maximum settlement amount of $1,180 to $1,210 for each $1,000 principal amount. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 22.

The Cusip number is 17324C6Y7.

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