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Citi plans trigger callable contingent yield notes on three indexes
By Sarah Lizee
Olympia, Wash., Oct. 22 – Citigroup Global Markets Holdings Inc. plans to price trigger callable contingent yield notes with daily coupon observation due Oct. 28, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 75% of its initial level, on each day that quarter. The contingent coupon rate will be 12% to 12.5% per year and will be set at pricing.
The notes are callable at par of $10 on each quarterly observation date.
If the notes are not called and each index finishes at or above its 75% downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
The notes will price on Oct. 23 and settle on Oct. 26.
The Cusip number is 17326X686.
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