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Citigroup plans dual directional trigger PLUS tied to Gold Miners ETF
By Angela McDaniels
Tacoma, Wash., Dec. 6 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due March 2021 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 200% of the ETF return, subject to a maximum return of 18.4%.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger level, the payout will be par plus the absolute value of the stock return. The trigger level will be 80 5% of the initial share price.
If the final share price is less than the trigger level, investors will be fully exposed to the decline from the initial share price.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
The notes will price Dec. 13.
The Cusip number is 17327U137.
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