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Citigroup plans five-year buffer notes with no cap tied to SPDR Dow
By Susanna Moon
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Oct. 31, 2022 linked to the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 100% to 110% of any fund gain, with the exact participation rate to be set at pricing.
Investors will receive par if the fund falls by up to 15% and will be exposed to any losses beyond 15%.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Oct. 26.
The Cusip number is 17324CMM5.
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