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Citigroup to price autocallable securities due 2020 tied to S&P, Dow
By Devika Patel
Knoxville, Tenn., July 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable securities due July 29, 2024 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
On July 21, 2021, July 20, 2022, July 20, 2023 or July 22, 2024, Citigroup will call the notes at par plus a call premium of 12% per year if the closing level of each index is greater than or equal to its initial level.
If each index finishes at or above its initial level, the payout at maturity will be $1,480 per $1,000 of notes.
Investors will receive par if the final level is less than the initial level but each index finishes at or above 70% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
The notes (Cusip: 17328W6L7) will price July 20 and settle July 27.
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