Citigroup plans dual directional barrier notes linked to the Dow

By Devika Patel

Knoxville, Tenn., Oct. 27 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due May 27, 2020 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.

If the index finishes at or above the initial level, the payout at maturity will be par plus double the index gain, subject to a maximum return of 20% to 23%. The exact cap will be set at pricing.

If the index finishes below the initial level but at or above the barrier level, 70% of the initial level, the payout at maturity will be par plus the absolute value of the index return.

If the index finishes below the barrier level, investors will lose 1% for each 1% decline from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324CC79) will price Nov. 21 and settle three business days after pricing.

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