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Citigroup Global plans trigger gears linked to Vanguard FTSE EM ETF
By Marisa Wong
Morgantown, W.Va., April 7 – Citigroup Global Markets Holdings Inc. plans to price 0% trigger gears due April 30, 2021 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 1.44 to 1.54 times the ETF return. The exact upside gearing will be set at pricing. Investors will receive par if the ETF declines by 25% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 25%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
The notes are expected to price April 26.
The Cusip number is 17324P107.
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