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Citibank to price CDs due 2015 linked to Russell 2000 index
New York, Oct. 9 - Citibank, NA plans to price five and a half-year 0% market-linked certificates of deposit linked to the Russell 2000 index, according to a term sheet.
The payout at maturity will be par plus the return on the index, capped at a maximum of 40% to 45%, with the exact cap to be set at pricing. Investors will not receive less than par.
The CDs will be putable on the 15th of each month at their market value, subject to an early redemption fee that is initially $25.00 per $1,000 and declines after that.
The CDs will price in October.
Citigroup will be the underwriter. Incapital is the distributor.
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