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Citigroup plans five-year buffer securities linked to S&P 500 index
By Jennifer Chiou
New York, April 4 - Citigroup Inc. plans to price 0% buffer securities due May 2, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index gain, capped at 40% to 50%.
Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline beyond 25%.
The notes (Cusip: 1730T0N54) are expected to price on April 28.
Citigroup Global Markets Inc. is the underwriter.
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