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Citigroup plans contingent coupon notes linked to S&P, Russell, Dow
By Angela McDaniels
Tacoma, Wash., March 5 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due March 11, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 8.2% per year if the least-performing index closes at or above its barrier level, 75% of its initial level, on the valuation date for that quarter.
The notes will be callable at par quarterly.
The payout at maturity will be par unless the least-performing index finishes below its barrier level, in which case investors will be exposed to the least-performing index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price March 8.
The Cusip number is 17326YPX8.
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