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Citi plans dual directional barrier securities on Emerging Markets ETF
By Sarah Lizee
Olympia, Wash., March 19 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due April 8, 2020 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the gain, up to a maximum return of 7%.
If the ETF falls but finishes at or above the 78.4% barrier level, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on March 22.
The Cusip number is 17326YX27.
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