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Citigroup plans barrier securities due 2023 tied to S&P 500, Russell
By Susanna Moon
Chicago, Jan. 8 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities due Jan. 31, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 400% to 450% of the gain, up to a maximum gain of 60%.
If either index falls by up to 40%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Jan. 26.
The Cusip number is 17324CQG4.
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