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Citi plans dual directional buffer notes linked to S&P 500, Stoxx 50
By Susanna Moon
Chicago, Dec. 12 – Citigroup Global Markets Holdings Inc. plans to price dual directional buffer securities due Dec. 27, 2023 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 160% of the return of the worse performing index.
If either index falls by up to 30%, the payout at maturity will be par plus the absolute value of the return of the worse performing index.
If either index falls by more than 30%, investors will be fully exposed to any losses of the worse performing index beyond the buffer.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Dec. 21.
The Cusip number is 17326YSJ6.
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