Citigroup plans 7% to 7.75% single observation ELKS due 2020 on Adobe

By Sarah Lizee

Olympia, Wash., May 28 – Citigroup Global Markets Holdings Inc. plans to price 7% to 7.75% single observation Equity Linked Securities due June 4, 2020 linked to Adobe Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will receive a number of Adobe shares equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 31.

The Cusip number is 17324XPD6.

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