Citigroup plans 5%-6% airbag autocallables linked to Lincoln National

By Angela McDaniels

Tacoma, Wash., April 16 - Citigroup Inc. plans to price 5% to 6% airbag autocallable yield optimization notes due April 24, 2015 linked to the common stock of Lincoln National Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Lincoln National shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Lincoln National shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.

The notes are expected to price April 21 and settle April 24.

The Cusip number is 17322H859.

© 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.