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Citigroup plans to price buffer securities linked to Dow
By Angela McDaniels
Tacoma, Wash., Nov. 23 – Citigroup Inc. plans to price 0% buffer securities due Dec. 28, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% to 110% of the index return. The exact upside participation rate will be set at pricing. Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price Dec. 22.
The Cusip number is 17298C4P0.
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