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Citigroup to price six-month 10.25%-12.25% ELKS linked to Facebook
By Toni Weeks
San Luis Obispo, Calif., March 4 - Citigroup Inc. plans to price 10.25% to 12.25% annualized single observation Equity LinKed Securities due Sept. 19, 2013 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par of $10 unless Facebook shares fall below 80% of the initial price on the Sept. 16, 2013 valuation day, in which case the payout will be a number of shares of Facebook stock equal to $10 divided by the initial price or, at the investor's option, an equivalent cash amount.
The notes (Cusip: 173095886) are expected to price March 15 and settle three business days later.
Citigroup Global Markets Inc. is the underwriter.
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