Citigroup to price buffer securities linked to iShares Russell 2000

By Angela McDaniels

Tacoma, Wash., July 3 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due July 28, 2022 linked to the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the final share price is greater than the initial share price, the payout at maturity will be par plus 110% to 120% of the ETF return, subject to a maximum return of 50%. The actual leverage factor will be set at pricing. If the share price declines by 20% or less, the payout will be par. If the share price declines by more than 20%, the payout per $1,000 principal amount will be $200 in cash plus a number of shares of the ETF equal to $1,000 divided by the initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes will price July 25.

The Cusip number is 17324XCN8.

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