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Citigroup plans to price contingent coupon autocalls tied to gold ETF
By Sarah Lizee
Olympia, Wash., Aug. 15 – Citigroup Global Markets Holdings Inc. plans to price contingent coupon autocallable notes due Aug. 31, 2023 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if the underlying closes at or above its 70% coupon barrier on the observation date for that period.
Starting in November, the notes will be called at par if the underlying closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the underlying closes below its 70% barrier level, in which case investors will lose 1% for every 1% decline of the underlying.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Aug. 27.
The Cusip number is 17327TRL2.
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