Citigroup plans five-year buffer securities with cap tied to S&P 500

By Susanna Moon

Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Sept. 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 100% to 110% of any index gain, up to a maximum return of 70%. The exact participation rate will be set at pricing.

Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Sept. 25.

The Cusip number is 17324CM78.

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