Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Citigroup Inc. > News item |
Citigroup to price autocallable securities due 2024 on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 14 – Citigroup Global Markets Holdings Inc. plans to price 0% autocallable securities due June 11, 2024 linked to the worst 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 are guaranteed by Citigroup Inc.
The notes will be automatically redeemed after one year for par plus an annual premium if on a quarterly valuation date the worst performing index closes at or above its initial value. The annual premium will be between 8% and 9%.
The payout at maturity will be par plus the applicable final premium, between 40% and 45%, if both indexes finish at or above their initial values.
If the worst performing index finishes at less than its initial value but above the 80% buffer value, the payout will be par. Otherwise, investors will be exposed to the losses of the worst performing index beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
The notes will price June 6.
The Cusip number is 17326YPJ9.
© 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.