Citigroup updates participation rate for 10-year trigger performance notes linked to Euro Stoxx

By Jennifer Chiou

New York, April 5 - Citigroup Inc. lowered the expected participation rate for its planned 0% trigger performance securities due April 28, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will now be par of $10 plus 295% to 315% of any gain in the index, down from 341% to 361%.

As reported, investors will receive par if the index falls by up to 50% and will be fully exposed to any losses if the index finishes below the 50% trigger level.

The notes (Cusip: 173095712) will price on April 26.

Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as agent.

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