Citigroup plans enhanced barrier digital plus securities on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 24 – Citigroup Inc. plans to price 0% enhanced barrier digital plus securities due January 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the final index level is at or above the barrier level, 80% of the initial level, the payout at maturity will be par plus the greater of the index gain and the 20% to 23% fixed return amount. The exact fixed return amount will be set at pricing.

Investors will otherwise be exposed to any decline from the initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price and settle in January.

The Cusip number is 17298C5M6.

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