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Citi intends to price dual directional buffer securities on S&P 500
By Sarah Lizee
Olympia, Wash., June 5 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional buffer securities due June 24, 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 87.8% buffer level, the payout at maturity will be par plus the absolute value of the index return.
Otherwise, investors will lose 1.13895% for every 1% decline of the index beyond the buffer.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on June 7.
The Cusip number is 17326YEY8.
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