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Citigroup plans callable contingent coupon notes on index, ETFs
By Sarah Lizee
Olympia, Wash., July 17 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon notes due July 27, 2023 linked to the least performing of the Russell 2000 index, the SPDR S&P Bank ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 8% if each underlying asset closes at or above its coupon barrier level, 60% of its initial price, on the related monthly observation date.
The notes will be callable in whole at par on any quarterly observation date starting July 2020.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
The notes will price on July 22.
The Cusip number is 17327TYV2.
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