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Citigroup plans buffered notes with leverage, cap linked to S&P 500
By Devika Patel
Knoxville, Tenn., March 9 – Citigroup Inc. plans to price 0% 23- to 26-month buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 160% of any index gain, up to a maximum settlement amount of $1,217.60 to $1,256 per $1,000 of notes. The exact cap will be set at pricing
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
The notes (Cusip: 17298CC63) are expected to price on March 9 and settle five business days after pricing.
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