Citigroup to price barrier securities due 2022 linked to S&P, Russell

By Devika Patel

Knoxville, Tenn., Dec. 22 – Citigroup Global Markets Holdings Inc. plans to sell 0% barrier securities due Dec. 30, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the lesser performing index return is positive, the payout at maturity will be par plus 400% to 450% of the index gain, subject to a maximum gain of 60%.

The payout will be par if the lesser performing index falls by up to 40%. Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324CPQ3) will price on Dec. 26.

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