Citi plans five-year buffer securities with no cap tied to SPDR Dow

By Susanna Moon

Chicago, Feb. 1 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Feb. 27, 2023 linked to the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 100% to 110% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 22.

The Cusip number is 17324XJK7.

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