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Citibank plans seven-year autocallable CDs on Dynamic Asset Selector
By Sarah Lizee
Olympia, Wash., Nov. 20 – Citibank, NA plans to price 0% autocallable market-linked certificates of deposit due Dec. 3, 2025 linked to the Citi Dynamic Asset Selector 5 Excess Return index, according to a term sheet.
If the index closes at or above the threshold level on any of the first six annual valuation dates, the notes will be automatically called at par plus a premium of 10% per year. The threshold level is 103.5% of the initial level for the first valuation date, stepping up by 350 basis points for each valuation date after that, to 121% of the initial level for the sixth valuation date.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
Citigroup Global Markets Inc. is the agent. Incapital LLC is distributor.
The CDs will price Nov. 27.
The Cusip number is 17294XJX5.
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