Citigroup plans market-linked notes tied to S&P 500 and Russell 2000

By Devika Patel

Knoxville, Tenn., Dec. 24 – Citigroup Global Markets Holdings Inc. intends to price 0% market-linked notes due Feb. 3, 2023 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Global Markets Inc.

If the final value of each index is positive, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum payout which is expected to be at least $1,200 per $1,000 of notes and will be set at pricing.

Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level, with a minimum payout of $950 per $1,000 of notes.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17327T3P9) will price on Jan. 31 and settle on Feb. 5.

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