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Citigroup plans contingent return optimization notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 9 – Citigroup Inc. plans to price 0% contingent return optimization securities due Sept. 29, 2017 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 85% of the initial index level, the payout at maturity will be par of $10 plus the greater of 6% and the index return, subject to a maximum return that is expected to be 20.75% to 24.75% and will be set at pricing.
If the final index level is less than the trigger level, investors will lose 1% for every 1% that the final level is below the initial level.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
The notes are expected to price Sept. 25 and settle Sept. 30.
The Cusip number is 17323Q668.
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