Citi to price autocallable contingent coupon notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Feb. 27 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Oct. 2, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, 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 if the lesser-performing index closes at or above its barrier value, 70% of its initial level, on the valuation date for that quarter. The contingent coupon is expected to be between 7.15% and 9.15% per year and will be set at pricing.

Beginning in September 2019, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential redemption date.

The payout at maturity will be par unless either index ever closes below the 70% knock-in level on any day during the life of the notes and finishes below the initial price. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes will price March 29.

The Cusip number is 17326YQD1.

© 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.