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Citigroup to price autocallables linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., May 9 – Citigroup Global Markets Holdings Inc. plans to price 0% autocallable securities due May 31, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus a premium if the lesser-performing index closes at or above its initial level on May 28, 2020, May 28, 2021, May 31, 2022 or May 30, 2023. The premium is expected to be 6.75% to 7.75% per year and will be set at pricing.
If the lesser-performing index finishes at or above its initial level, the payout at maturity will be par plus the premium applicable to that valuation date.
The payout will be par if the lesser-performing index finishes below its initial level but at or above its trigger value, 60% of its initial level.
If the lesser-performing index finishes below its trigger value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Citigroup Global Markets Inc. is the agent.
The notes are expected to price May 28.
The Cusip number is 17326YHU3.
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