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Citigroup plans principal-protected notes with averaging linked to Dow
By Angela McDaniels
Tacoma, Wash., Nov. 18 – Citigroup Inc. plans to price 0% market-linked notes due Nov. 26, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The final index level will equal the average of the index’s closing levels on every trading day from Aug. 23, 2021 to Nov. 22, 2021.
If the final index level is greater than the initial index level, the payout at maturity will be par plus at least 74% of the index return. The exact participation rate will be set at pricing. If the final index level is less than or equal to the initial index level, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Nov. 20.
The Cusip number is 17323P314.
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