Citigroup to price geared buffer notes linked to mid caps, small caps

By Angela McDaniels

Tacoma, Wash., Sept. 13 – Citigroup Global Markets Holdings Inc. plans to price 0% geared buffer securities due Oct. 2, 2023 linked to a basket holding the S&P MidCap 400 index with a 60% weight and the iShares Core S&P Small-Cap ETF with a 40% weight, according to a 424B2 filing with the Securities and Exchange Commission.

If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 135% of the basket return, subject to a maximum return that is expected to be at least 46.75% and will be set at pricing.

If the final basket level is less than or equal to the initial basket level but greater than or equal to the final buffer value, 80% of the initial basket level, the payout will be par.

If the final basket level is less than the final buffer value, investors will lose 1.25% for every 1% that the basket declines beyond 20%.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 27.

The Cusip number is 17327TGT7.

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