Citi to price buffer securities due 2024 linked to SPDR Dow Jones ETF

By Sarah Lizee

Olympia, Wash., Oct. 28 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Nov. 1, 2024 linked to the SPDR Dow Jones Industrial Average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The payout at maturity will be par plus any ETF gain, up to a maximum payout of par of $1,000 plus 50% to 55%.

Investors will receive par if the ETF falls by up to 20% and will receive a fixed number of underlying shares equal to the equity ratio, the stated principal amount divided by the initial underlying value, or the cash value of those shares based on the final underlying value, plus the $200 cash buffer.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Oct. 29.

The Cusip number is 17324XSL5.

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