Citigroup plans to price barrier securities tied to S&P 500 ETF

By Sarah Lizee

Olympia, Wash., July 9 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities due Feb. 3, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

If the final share price is greater than the initial share price, the payout at maturity will be par plus the ETF return, capped at par plus 15% to 17%.

If the final share price is less than or equal to the initial share price but greater than or equal to the 85% barrier price, the payout will be par.

Otherwise, investors will receive a number of shares of the ETF equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price July 29.

The Cusip number is 17324XRM4.

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