Citigroup plans five-year barrier securities linked to S&P, Russell

By Sarah Lizee

Olympia, Wash., June 1 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities due June 29, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, 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 325% to 375% of any gain of the worse performing asset up to a maximum return of par plus 50%. The exact leverage will be set at pricing.

If the worse performing asset falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing asset.

Citigroup Global Markets Inc. is the underwriter.

The notes will price June 26 and settle three business days after.

The Cusip number is 17324CVJ2.

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