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Citi amends Cusip for dual directional barrier notes on SPDR S&P ETF
By Marisa Wong
Morgantown, W.Va., Sept. 28 – Citigroup Global Markets Holdings Inc. amended the Cusip number for its upcoming 0% dual directional barrier securities due April 29, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B3 filing with the Securities and Exchange Commission.
The Cusip number is 17324XDJ6, replacing 17324CZY5 as disclosed in a previous 424B2 filing.
The notes are guaranteed by Citigroup Inc.
If the ETF finishes at or above the initial share price, the payout at maturity will be par plus the ETF return, subject to a maximum return of 18% to 20%.
If the ETF finishes below the initial share price but at or above the barrier price, the payout at maturity will be par plus the absolute value of the ETF return. The barrier price will be 70% of the initial share price.
If the ETF finishes below the barrier price, the payout will be a number of ETF shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Oct. 26.
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