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Citi plans capped gears due 2020 with 3x leverage linked to S&P
By Sarah Lizee
Olympia, Wash., April 23 – Citigroup Global Markets Holdings Inc. plans to price 0% capped gears due May 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum gain of between 11% and 11.4%. The exact cap will be set at pricing.
Investors will lose 1% for each 1% decline.
The notes are guaranteed by Citigroup Inc.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
The notes will price on April 25.
The Cusip number is 17326W530.
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