Citigroup plans buffer notes tied to SPDR Dow Jones industrial average

By Angela McDaniels

Tacoma, Wash., April 25 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due June 3, 2024 linked to the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the trust return, subject to a maximum return that is expected to be 55% to 60% and will be set at pricing.

If the trust declines by 20% or less, the payout will be par.

If the trust declines by more than 20%, the payout will be a number of trust shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price May 29.

The Cusip number is 17326YXG6.

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