Citigroup plans absolute return trigger notes tied to S&P 500 index

By Sarah Lizee

Olympia, Wash., Aug. 16 – Citigroup Global Markets Holdings Inc. plans to price 0% absolute return trigger notes due in 23 to 26 months linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

A barrier event will occur if on any day during the life of the notes the closing level of underlier declines below the lower barrier of 82.78% to 79.75% of the initial underlier level or increases above the upper barrier of 117.22% to 120.25% of the initial underlier level. The exact barrier levels will be set at pricing.

If a barrier event has not occurred, the payout at maturity will be par plus the absolute value of the index return.

If a barrier event has occurred, the payout will be $1,020 per $1,000 principal amount.

Citigroup Global Markets Holdings Inc. is the agent.

The Cusip number is 17324CZT6.

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