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Citi to price autocallable contingent coupon notes linked to Dow, VanEck Vectors Gold
By Emma Trincal
New York, April 16 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due May 4, 2023 linked to the least performing of the Dow Jones industrial average and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 11% to 13% per year if the least-performing underlier closes at or above its coupon barrier value, 75% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on any quarterly call observation date after six months.
Investors will receive par if either underlying falls by 25% or less and will lose 1% for every 1% that the lesser-performing underlying declines beyond 25%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on April 30.
The Cusip number is 17328VN63.
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