Citigroup plans barrier securities with upside reset feature on S&P, Dow

By Sarah Lizee

Olympia, Wash., April 24 – Citigroup Global Markets Holdings Inc. plans to sell 0% barrier securities with upside reset feature due May 4, 2026 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The upside barrier value will be the initial underlying value of the lesser performing index unless a reset event has occurred, in which case the upside barrier value will be 85% of the initial underlying value of the lesser performing index. A reset event will occur if on any trading day until April 27, 2021, the either underlier closes below 85% of its initial underlying value.

If the final underlying value of the lesser performing index is greater than the upside barrier value, the payout at maturity will be par plus the return of the lesser performing index.

If the final underlying value of the lesser performing index is less than or equal to the upside barrier value but greater than or equal to the downside barrier value, 70% of the initial underlying value, the payout will be par.

If the final underlying value is less than the downside barrier value, investors will be fully exposed to the decline of the lesser performing index.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17328VUA6) will price on April 27.

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