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Citigroup plans five-year barrier digital plus notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., June 26 – Citigroup Inc. plans to price 0% barrier digital plus securities due July 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of the index return and the fixed return of 25% to 30%. The exact fixed return will be set at pricing.
If the index finishes below the initial level but at or above the barrier level, 80% of the initial level, the payout will be par.
If the index finishes below the barrier level, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter.
The notes will price July 28.
The Cusip number is 17298CCM8.
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