Citigroup eyes buffer securities on SPDR Dow Jones Industrial Average

By Devika Patel

Knoxville, Tenn., June 21 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due July 30, 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 payout that is expected to be 50% to 55% and will be set at pricing.

Investors will receive par if the trust falls by up to the buffer amount of 20% and will receive a number of SPDR Dow Jones Industrial Average ETF Trust shares equal to the principal divided by the initial price plus a cash buffer of $200 per $1,000 principal amount if the trust falls by more than 20%.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17324XRH5) will price July 25 and settle July 30.

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