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Citigroup plans 25- to 28-month buffered notes tied to S&P 500 index
By Marisa Wong
Morgantown, W.Va., May 10 – Citigroup Inc. plans to price 25- to 28-month 0% buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount expected to be between $1,228 and $1,267 for each $1,000 of notes.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
The exact deal terms, including the maturity and cap, will be set at pricing.
Citigroup Global Markets Inc. is the agent.
The notes (Cusip: 17298CEN4) are expected to price on May 11.
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