Citigroup eyes enhanced barrier digital plus notes on SPDR S&P ETF

By Devika Patel

Knoxville, Tenn., Oct. 9 – Citigroup Global Markets Holdings Inc. plans to price 0% enhanced barrier digital plus securities due Nov. 4, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the fund finishes at or above the barrier level, 80% of the initial level, the payout at maturity will be par plus the greater of any gain and the 20% fixed return, subject to a maximum payout of 50% to 55%. The exact maximum payout will be set at pricing.

Otherwise, investors will receive a number of shares equal to the principal divided by the initial share price or the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324XTZ3) will price on Oct. 30 and settle Nov. 4.

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