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Citigroup plans to price barrier securities on SPDR S&P 500 ETF
By Sarah Lizee
Olympia, Wash., May 15 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities with upside reset feature due May 25, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the ETF Is greater than its initial level, the payout will be par plus at least 100% of the ETF return. The exact participation rate will be set at pricing.
If the ETF finishes flat or declines by up to 20%, the payout will be par.
If the ETF finishes below 80% of its initial level, investors will be exposed to the decline of the ETF.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on May 20.
The Cusip number is 17324XE48.
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