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Citigroup plans trigger step performance notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Sept. 9 - Citigroup Inc. plans to price 0% trigger step performance securities due Sept. 29, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index's decline from its initial level if it declines beyond 25%.
The step return is expected to be 22% to 27% and will be set at pricing.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price Sept. 25.
The Cusip number is 17321F706.
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