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Citigroup to price leveraged notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., April 1 – Citigroup Inc. plans to price 18- to 21-month 0% notes 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 plus 300% of the index return, subject to a maximum settlement amount that is expected to be $1,171 to $1,201 per $1,000 principal amount of notes. Investors will be exposed to losses if the index declines.
The exact maturity date and maximum settlement amount will be set at pricing.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price April 6.
The Cusip number is 17298CE87.
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