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Citigroup plans buffer securities due 2020 linked to S&P 500
By Sarah Lizee
Olympia, Wash., June 10 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Oct. 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return that is expected to be 12% to 14% and will be set at pricing.
Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
The notes will price June 28.
The Cusip number is 17326YNL6.
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