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Citigroup to price callable contingent coupon notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., Oct. 19 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due Oct. 27, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of at least 8.55% if each underlying asset closes at or above its coupon barrier level, 65% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par on any contingent coupon payment date after one year.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing asset.
Citigroup Global Markets Inc. is the agent.
The notes are expected to price on Oct. 22.
The Cusip number is 17326YG67.
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