Citigroup to price 7%-8% single observation ELKS on Morgan Stanley

By Sarah Lizee

Olympia, Wash., Feb. 6 – Citigroup Global Markets Holdings Inc. plans to price 7% to 8% single observation Equity Linked Securities due March 2, 2020 linked to Morgan Stanley shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The payout at maturity will be par unless the stock finishes below the 78% trigger level, in which case investors will receive a number of Morgan Stanley shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 26.

The Cusip number is 17324XKN9.

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