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Citigroup plans Accelerated Return Notes tied to S&P 500 index
By Marisa Wong
Madison, Wis., Sept. 3 - Citigroup Inc. plans to price 0% Accelerated Return Notes due June 29, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus at least 121.5% of the index return. The exact leverage factor will be set at pricing.
If the index finishes at or above the 75% barrier level, the payout will be par. If the index finishes below the barrier level, investors will have 1-to-1 downside exposure to the decline.
The notes (Cusip: 1730T0VA4) are expected to price Sept. 25 and settle three days later.
Citigroup Global Markets Inc. is the underwriter.
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