Citigroup plans to price dual directional notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 1 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional market-linked notes due Aug. 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the final index level is less than the downside knock-out level, at most 84.1% of the initial index level, or greater than the upside knock-out level, at least 115.9% of the initial index 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.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Aug. 2.

The Cusip number is 17327TDB9.

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