Citigroup plans $250 million C-Tracks linked to Miller/Howard MLP

By Jennifer Chiou

New York, Sept. 20 - Citigroup Inc. plans to offer $250 million of 0% C-Tracks exchange-traded notes due Sept. 28, 2023 linked to the Miller/Howard MLP Fundamental index, according to a 424B2 filing with the Securities and Exchange Commission.

The index measures the performance of 25 energy master limited partnerships selected quarterly based on distribution growth, estimated capital expenditures and distribution coverage. The index sponsor is Miller/Howard Strategic Indexes, LLC.

The C-Tracks have a principal amount of $25 each.

The securities are putable at any time, subject to a minimum of 50,000 securities, and are callable in whole on any day beginning on Sept. 25, 2014. There is a one-time redemption charge equal to 0.1% times the closing indicative value on the valuation date.

The payout upon redemption or at maturity will be par plus the index return, which could be positive or negative, and minus a fee amount.

The fee amount is initially zero. It will increase each day by an amount equal to 0.95% per year multiplied by par plus the index return on that day.

The notes (Cusip: 17321F201) will price on Sept. 25.

Citigroup Global Markets Inc. is the agent.

© 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.