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Citigroup plans barrier dual range accrual notes on Libor, Russell
By Susanna Moon
Chicago, April 3 - Citigroup Inc. plans to price callable barrier dual range accrual notes due April 29, 2028 linked to Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 9% for each day that Libor is 6% or less and the index closes at or above the accrual barrier level, which will be 72.5% of the initial index level. Interest will be payable quarterly.
The payout at maturity will be par unless the index finishes at or below the 50% barrier level, in which case investors will share fully in losses.
The notes will be callable at par on any interest payment date after two years.
Citigroup Global Markets Inc. is the agent.
The notes will price on April 24 and settle three business days later.
The Cusip number is 1730T0SV2.
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