Citigroup plans contingent coupon autocallables on Apple, Alphabet

By Marisa Wong

Morgantown, W.Va., Nov. 7 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Nov. 21, 2017 linked to the common stocks of Apple Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% to 9% if each stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.

The notes will be automatically called at par of $1,000 plus the contingent coupon if each stock closes at or above its initial price on any quarterly valuation date.

If the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of shares of the worst performing stock equal to $1,000 divided by its initial price or, at the issuer’s option, the cash value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on Nov. 16.

The Cusip number is 17324CCD6.

© 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.