Citigroup plans dual directional barrier notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 14 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due July 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the index finishes at or above the initial level, the payout at maturity will be par plus the index return.

If the index finishes below the initial level but at or above the barrier level, the payout at maturity will be par plus the absolute value of the index return. The barrier level is expected to be 80% to 84% of the initial index level and will be set at pricing.

If the index finishes below the barrier level, investors will be exposed to the index’s decline from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes will price July 26.

The Cusip number is 17324P438.

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