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Citi plans callable contingent coupon notes linked to three indexes
By Sarah Lizee
Olympia, Wash., April 12 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon notes due May 1, 2024 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 5.8% if each underlying index closes at or above its coupon barrier level, 65% of its initial price, on the observation date for that period.
The notes will be callable quarterly in whole at par after one year.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
The notes will price on April 26.
The Cusip number is 17326YWX0.
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