Citibank plans market-linked CDs tied to Dow Jones Industrials

By Toni Weeks

San Diego, June 1 - Citibank, NA plans to price market-linked certificates of deposit due June 26, 2017 linked to the Dow Jones Industrial Average, according to a term sheet.

The payment at maturity will be par plus the index return times a participation rate of 100% to 110%. The exact participation rate will be set at pricing.

The index return will be the average of the percentage change in the closing value of the index on 24 quarterly valuation dates.

Investors will receive a minimum of par at maturity.

The CDs (Cusip: 172986DF5) are expected to price on June 21 and settle on June 24.

Citigroup Global Markets Inc. will be the agent, and Advisors Asset Management, Inc. will act as the distributor.

© 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.