Citigroup Market-Linked Certificates of Deposit (Cusip: 172986HA2)

Citigroup Structured New Issues Final Prospectus (Cusip: 1730T0HL6)Did You Invest in Citigroup Market-Linked Certificates of Deposit (Cusip: 172986HA2), Callable Fixed to Floating Rate Market-Linked Certificates of Deposit Linked to the CMS Spread Maturing March 12, 2034?

According to Citigroup Market-Linked Certificates of Deposit (Cusip: 172986HA2):

The Callable Fixed to Floating Rate Market-Linked Certificates of Deposit Linked to the CMS Spread Maturing March 12, 2034 are a specific type of callable market-linked time deposit offered by Citibank, N.A. (“Citibank”) that offers the potential for periodic income as described below and has a maturity of twenty years (subject to our right to call the Deposits as described below).

Because the Deposits are bank deposits, your principal investment in the Deposits is FDIC-insured if held to maturity, within the limits and to the extent described in the accompanying Disclosure Statement in the section “Deposit Insurance.” Thus, if you hold your Deposit to maturity, you will receive at maturity for each $1,000 principal amount deposited an amount in cash equal to $1,000, plus any accrued and unpaid interest.

However, the value of the Deposits before maturity and the amount of interest, if any, you receive after the first year following their issuance will depend on the performance of the CMS Spread, as described in more detail below.

Investors ought to be cautious with this type of investment. According to the Financial Industry Regulatory Authority (FINRA):

FINRA-Structured-Products


If you bought the structured product known as Citigroup Market-Linked Certificates of Deposit (Cusip: 172986HA2), Callable Fixed to Floating Rate Market-Linked Certificates of Deposit Linked to the CMS Spread Maturing March 12, 2034, and it was sold to you as a safe, liquid, and/or conservative investment, and then you suffered losses, you may have a claim. Contact the attorneys at Sonn Law Group for free consultation.

Image credit: Matt Buck via Flickr

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