Citigroup to price capped trigger gears linked to iShares MSCI EAFE

By Angela McDaniels

Tacoma, Wash., July 31 – Citigroup Global Markets Holdings Inc. plans to price 0% capped trigger gears due Aug. 6, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the ETF return is greater than zero, the payout at maturity will be par of $10 plus two times the ETF return, subject to a maximum return that is expected to be 32.5% to 34.5% and will be set at pricing. Investors will receive par if the ETF declines by 25% or less and be fully exposed to the ETF’s decline from its initial share price if it declines by more than 25%.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.

The notes are expected to price Aug. 2.

The Cusip number is 17325K321.

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