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Citigroup plans to price buffer securities linked to Dow ETF
By Sarah Lizee
Olympia, Wash., July 22 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Aug. 30, 2024 linked to the SPDR Dow Jones Industrial Average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final ETF level is greater than the initial ETF level, the payout at maturity will be par plus the ETF return, subject to a maximum return that is expected to be 50% to 55% and will be set at pricing. Investors will receive par if the ETF declines by up to 20% and will lose 1% for every 1% that it declines beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Aug. 27.
The Cusip number is 17324XQG8.
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