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Citibank plans seven-year autocallable CDs on Dynamic Asset Selector
By Marisa Wong
Morgantown, W.Va., May 23 – Citibank, NA plans to price 0% autocallable market-linked certificates of deposit due June 2, 2026 linked to the Citi Dynamic Asset Selector 5 Excess Return index, according to a term sheet.
If the index closes at or above the premium threshold level on any of the first six annual valuation dates, the notes will be automatically called at par plus a premium of 3.85% per year. The premium threshold level is 100.95% of the initial level for the first valuation date, stepping up by 95 basis points on each subsequent valuation date to 105.7% of the initial level for the sixth valuation date.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
Citigroup Global Markets Inc. is the agent. Advisors Asset Management is distributor.
The CDs will price on May 28.
The Cusip number is 17294XSB3.
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