Citigroup plans contingent income autocallables tied to AT&T

By Sarah Lizee

Olympia, Wash., April 12 – Citigroup Global Markets Holdings Inc. plans to price contingent income autocallable securities due April 21, 2022 linked to the common stock of AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If AT&T shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10.75%.

The notes will be called at par of $10 plus the contingent coupon if AT&T shares close at or above the initial share price on any quarterly determination date other than the final determination date.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a dealer.

The notes are expected to price April 18.

The Cusip number is 17326W860.

© 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.