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Citi intends to price dual directional market-linked notes on S&P 500
Chicago, March 6 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional market-linked notes due March 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes below the downside knock-out level, anticipated to be between 72% to 75% of the initial level, or above the upside knock-out level, anticipated to be between 125% and 128% of the initial level, at any point during the life of the notes, investors will receive a knock-out return of par plus 3% at maturity.
Otherwise, investors will receive par plus the absolute value of the return.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on March 26.
The Cusip number is 17326YK96.
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