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Citi plans equity-linked notes with geared buffer downside on Russell
By Tali Rackner
Norfolk, Va., Oct. 10 – Citigroup Global Markets Holdings Inc. plans to price 5% equity-linked securities with geared buffered downside due Oct. 14, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable semiannually.
If the final index level is greater than the buffer level, 80% of the initial level, the payout at maturity will be par.
If the index declines by more than 20%, investors will lose 1.25% for every 1% that it declines beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price Oct. 11.
The Cusip number 17324CBW5.
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