Citigroup plans 21- to 24-month buffered notes tied to S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, April 8 – Citigroup Inc. plans to price 21- to 24-month 0% buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 140% of any index gain, up to a maximum settlement amount expected to be between $1,182.00 and $1,212.80 for each $1,000 of notes.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.

The exact deal terms, including maturity and cap, will be set at pricing.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17298CEF1) are expected to price on April 11 and settle five business days after pricing.

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