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Citigroup to price 8%-9% Single Observation ELKS linked to Nvidia
By Angela McDaniels
Tacoma, Wash., March 5 – Citigroup Global Markets Holdings Inc. plans to price Single Observation Equity Linked Securities due March 31, 2020 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The interest rate is expected to be 8% to 9% per year and will be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless the stock finishes below the downside threshold price, 70% of the initial share price, in which case the payout will be a number of Nvidia shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
The notes will price March 26.
The Cusip number is 17324XJS0.
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