Citigroup plans enhanced barrier digital plus notes tied to salesforce.com

By Wendy Van Sickle

Columbus, Ohio, Jan. 10 – Citigroup Global Markets Holdings Inc. plans to price 0% enhanced barrier digital plus securities due Aug. 4, 2021 linked to the common shares of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If the stock finishes at or above the barrier level, 80% of the initial level, the payout at maturity will be par plus the greater of any gain and the 10% digital return, subject to a maximum return of 16% to 18%. The exact cap will be set at pricing.

Otherwise, investors will receive a number of salesforce.com shares equal to the principal divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324XVM9) will price on Jan. 30.

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