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Citigroup plans trigger step performance securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 23 – Citigroup Inc. plans to price 0% trigger step performance securities due June 28, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 22% to 25% and will be set at pricing. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
The notes will price June 25 and settle June 30.
The Cusip number is 17323Q403.
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