Citigroup plans autocallables linked to PayPal, Square, Capital One

By Angela McDaniels

Tacoma, Wash., June 26 – Citigroup Global Markets Holdings Inc. plans to price autocallable equity-linked securities due July 2, 2018 linked to the common stock of PayPal Holdings, Inc., the class A common stock of Square, Inc. and the common stock of Capital One Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The interest rate is expected to be at least 13.5% per year and will be set at pricing. Interest will be payable monthly.

Beginning in September, the notes will be automatically called if the worst-performing stock closes at or above its initial share price on any monthly observation date.

The payout at maturity will be par unless any stock finishes below its downside threshold price, 70% of its initial share price, in which case the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price June 27.

The Cusip number is 17324XCP3.

© 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.