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Citi to price dual directional market-linked notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 6 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional market-linked notes due March 3, 2022 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
A knock-out event will occur if the index ever closes above 127% to 130% of its initial level or below 70% to 73% of its initial level. The exact knock-out levels will be set at pricing.
If a knock-out event occurs, the payout at maturity will be par plus 3%.
If a knock-out event does not occur, the payout will be par plus the absolute value of the index return.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Feb. 27.
The Cusip number is 17326YNA0.
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