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Citigroup plans trigger performance securities linked to S&P 500 index
By Jennifer Chiou
New York, Dec. 2 – Citigroup Inc. plans to price 0% trigger performance securities due Dec. 31, 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 of $10 plus 104% to 114% of the index return, with the exact participation rate to be determined at pricing.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 60% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
The notes (Cusip: 17322X656) will price on Dec. 26 and settle on Dec. 31.
Citigroup Global Markets Inc. is the underwriter. UBS Financial Services Inc. is the agent.
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