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Citibank to price five-year market-linked CDs linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 25 – Citibank, NA plans to price 0% market-linked certificates of deposit due Feb. 1, 2024 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus 100% to 110% of the average index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.
The average index return is the average of the interim index returns for each of the quarterly valuation dates making up the life of the CDs. The interim return is measured from the pricing date to the applicable valuation date.
Citigroup Global Markets Inc. is the agent. Advisors Asset Management is distributor.
The CDs will price Jan. 28.
The Cusip number is 17294XMG8.
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