Correction: Citi plans par-protected contingent absolute return notes

A story in the July 27 edition of the Prospect News Structured Products Daily incorrectly reported the payout terms of Citigroup Global Markets Holdings Inc.’s 0% contingent absolute return market-linked notes, which are principal protected. The correct version is as follows.

By Susanna Moon

Chicago, July 30 – Citigroup Global Markets Holdings Inc. plans to price 0% contingent absolute return market-linked notes due Feb. 13, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index never closes outside its knock-out levels during the life of the notes, the payout at maturity will be par plus the absolute value of the return.

If the index ever rises above the upside knock-out level or falls below its downside knock-out level, the payout will be par.

The upside knock-out level is expected to be 116% to 118% of the initial index level and the downside knock-out level is expected to be between 82% and 84%, with the exact thresholds to be set at pricing.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the agent.

The notes will price on Aug. 8.

The Cusip number is 17324CYN0.

© 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.