Citigroup plans 7% callable equity-linked securities on Dow, Russell

By Sarah Lizee

Olympia, Wash., March 20 – Citigroup Global Markets Holdings Inc. plans to price 7% callable equity-linked securities due March 28, 2024 to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Interest is payable quarterly.

The notes will be callable quarterly after one year.

If both indexes finish at or above their downside threshold, 85% of the initial levels, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on March 23.

The Cusip number is 17328VET3.

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