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Citigroup plans five-year leveraged barrier notes tied to Russell, S&P
By Susanna Moon
Chicago, July 25 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities due Aug. 31, 2023 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying asset finishes at or above its initial level, the payout at maturity will be par plus 325% to 375% of the gain of the worse performing index up to a maximum return of 50%.
If either index falls by up to its 60% barrier level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Aug. 28.
The Cusip number is 17324CYF7.
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