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Citigroup to price 10-year capped trigger gears tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – Citigroup Global Markets Holdings Inc. plans to price 0% capped trigger gears due Nov. 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.3 to 1.5 times the index return. The exact upside gearing will be set at pricing.
Investors will receive par if the index declines by 50% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 50%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Nov. 27.
The Cusip number is 17325K842.
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