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Citigroup to price notes with averaging linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Jan. 29 - Citigroup Inc. plans to price 0% market-linked notes due Aug. 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the average index return percentage is greater than zero, the payout at maturity will be par plus 90% to 100% of the average index return percentage. The exact upside participation rate will be set at pricing. If the average index return percentage is less than or equal to zero, the payout will be par.
The average index return percentage will be the average of the index's return on each of the quarterly valuation dates, which are expected to be the 25th day of each February, May, August and November during the term of the notes. The return on each valuation date will be measured relative to the index's closing level on the pricing date.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price Feb. 25.
The Cusip number is 1730T0H36.
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