Citigroup plans annual reset coupon securities linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Oct. 5 – Citigroup Global Markets Holdings Inc. plans to price annual reset coupon securities due Nov. 1, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Interest will be payable annually. If the index return is zero or positive, the coupon for that year will be 4% to 5%. The exact rate will be set at pricing. If the index return is negative, the coupon will be 3%. The index return will be the percentage change in the index level compared to a year earlier.

The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for each 1% that the index declines beyond 15%.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Oct. 26.

The Cusip number is 17324CBS4.

© 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.