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Citigroup to price contingent bearish notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Oct. 4 – Citigroup Global Markets Holdings Inc. plans to price 0% contingent bearish market-linked notes due Oct. 13, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the threshold level, 95% of the initial index level, the payout will be par.
If the final index level is less than the threshold level but greater than or equal to the knock-out level, 77.5% of the initial index level, the payout will be par plus the absolute value of the index return minus 5%.
If the final index level is less than the knock-out level, the payout will be par.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Oct. 7.
The Cusip number is 17327TMA1.
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