Citi plans 12% contingent income autocalls tied to three tech stocks

By Susanna Moon

Chicago, July 18 – Citigroup Global Markets Holdings Inc. plans to price contingent income autocallable securities due July 30, 2021 linked to the worse performing of the common stocks of Amazon.com Inc., Alphabet, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 12% if each underlying stock closes at or above the 55% downside threshold on the determination date for that month.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any valuation date other than the final date.

The payout at maturity will be par unless any stock finishes below its 55% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing stock.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 27.

The Cusip number is 17326K668.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.