Citi intends to price dual directional barrier securities on S&P 500

By Sarah Lizee

Olympia, Wash., May 21 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due June 10, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index 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 index falls but finishes at or above the 81.85% barrier level, the payout at maturity will be par plus the absolute value of the index return.

Otherwise, the payout will be par plus the index return, with full exposure to losses.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 24.

The Cusip number is 17326YSC1.

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