Citi plans contingent buffered digital notes tied to SPDR S&P Bank ETF

By Angela McDaniels

Tacoma, Wash., March 22 – Citigroup Inc. plans to price 0% contingent buffered digital notes due April 12, 2017 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to 85% of the initial share price, the payout at maturity will be par plus 10.7%. Otherwise, investors will lose 1% for every 1% that the ETF finishes below its initial share price.

The final share price will be the average of the ETF’s closing share prices on the five trading days ending April 7.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price March 24.

The Cusip number is 17298CD96.

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