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Citigroup plans 8%-10% single observation ELKS linked to Twitter
By Susanna Moon
Chicago, Jan. 12 – Citigroup Inc. plans to price 8% to 10% single observation Equity Linked Securities due Feb. 2, 20163 linked to Twitter, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
If the final share price is at least 70% of the initial share price, the payout at maturity will be par of $10.
Otherwise, the payout will be a number of Twitter shares equal to $10 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Jan. 28.
The Cusip number is 1730T04B2.
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