Citigroup plans leveraged currency-linked notes on dollar vs. euro

By Toni Weeks

San Luis Obispo, Calif., Nov. 13 – Citigroup Inc. plans to price 0% currency-linked notes due Nov. 26, 2019 tied to the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 180% to 200% of any currency gain, with the exact leverage factor to be determined at pricing. If the currency return is zero or negative but greater than negative 5%, the payout will be par plus the currency return. If the currency return is equal to or less than negative 5%, investors will receive 95% of par.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Nov. 21 and settle three business days later.

The Cusip number is 1730T03E7.

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