Citigroup to price autocallable phoenix notes on Bank of America

By Marisa Wong

Morgantown, W.Va., June 20 – Citigroup Global Markets Holdings Inc. plans to price autocallable phoenix securities due July 10, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 80.25% coupon barrier on the related quarterly observation date.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on Oct. 4, Jan. 3, 2019 or April 4, 2019.

The payout at maturity will be par unless the stock finishes below its 80.25% barrier, in which case investors will be fully exposed to the share price decline.

Citigroup Global Markets Inc. is the agent.

The notes will price on June 22.

The Cusip number is 17324CWN2.

© 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.