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Citigroup to price dual directional barrier securities on S&P 500
By Sarah Lizee
Olympia, Wash., Jan. 29 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due Feb. 18, 2022 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 125% of the gain, up to a maximum return of 55%.
If the index falls but finishes at or above the 80% barrier level, the payout at maturity will be par plus the absolute value of the index return.
Otherwise, the payout will be par plus the index return, with full exposure to losses.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Feb. 15.
The Cusip number is 17326YV78.
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