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Citigroup plans trigger return optimization notes linked to S&P 500
By Susanna Moon
Chicago, May 2 - Citigroup Inc. plans to price 0% trigger return optimization securities due May 22, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, up to a maximum return of 21% to 27%. The exact cap will be set at pricing.
If the index falls by up to the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes will price on May 16 and settle on May 21.
The Cusip number is 17322H826.
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