Citigroup plans annual reset coupon securities linked to Russell

By Toni Weeks

San Luis Obispo, Calif., March 5 – Citigroup Inc. plans to price annual reset coupon securities due March 31, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable annually and will equal 5% to 5.3% if the applicable annual index return is zero or positive. Otherwise the coupon will be 3%. Both coupons will be set at pricing. The index's return will be measured from its level a year earlier.

The payout at maturity will be par unless the final index level is less than 85% of the initial index level, in which case investors will lose 1% for every 1% that the index declines beyond 15%.

Citigroup Global Markets Inc. is the agent.

The notes will price March 27.

The Cusip number is 1730T05U9.

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