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Citi plans PLUS tied to SPDR S&P Oil & Gas Exploration & Production
By Angela McDaniels
Tacoma, Wash., Aug. 28 – Citigroup Inc. plans to price 0% Performance Leveraged Upside Securities due Dec. 20, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return that is expected to be at least 40% and will be set at pricing. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
The notes are expected to price Sept. 15.
The Cusip number is 17323Q718.
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