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Citigroup plans five-year annual reset coupon notes linked to Russell
By Susanna Moon
Chicago, Jan. 9 – Citigroup Global Markets Holdings Inc. plans to price annual reset coupon securities due Jan. 31, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest will be payable annually. If the index return is at least zero, the coupon for that year will be 4.5% to 5.5%, with the exact rate to be set at pricing. Otherwise, the coupon will be 3%.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for each 1% decline beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Jan. 26.
The Cusip number is 17324CDX1.
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