Citigroup plans dual directional barrier notes on Energy Select SPDR

By Devika Patel

Knoxville, Tenn., Dec. 13 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due Jan. 2, 2019 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the fund finishes at or above the initial level, the payout at maturity will be par plus double the fund gain, subject to a maximum return of 20% to 26%. The exact cap will be set at pricing.

If the fund finishes below the initial level but at or above the barrier level, 80% of the initial level, the payout at maturity will be par plus the absolute value of the fund return.

If the fund 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: 17324CC20) will price Dec. 23 and settle four business days after pricing.

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