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Citi plans callable dual range accrual notes linked to S&P 500, Libor
By Wendy Van Sickle
Columbus, Ohio, April 13 – Citigroup Global Markets Holdings Inc. plans to price callable dual range accrual notes due April 28, 2031 linked to three-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will for each day that Libor is 0% to 5% and the index closes at or above the 75% barrier level. Interest will be payable quarterly. The annualized interest rate will be 5% until April 28, 2021, stepping up to 6% until April 28, 2026, then to 7% until the maturity date.
The payout at maturity will be par plus any coupon due.
The notes will be callable at par on any interest payment date beginning April 28, 2017.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on April 25.
The Cusip number is 17324C2U9.
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