Citigroup plans to price barrier securities linked to S&P 500, Libor

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Citigroup Global Markets Holdings Inc. plans to price 0% barrier securities due Sept. 21, 2020 linked to the S&P 500 index and three-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.

A barrier rate event occurs if Libor on Sept. 14, 2020 is less than 50% of Libor on the pricing date.

If a barrier rate event has not occurred and the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the index return.

If a barrier rate event has not occurred and the final index level is less than or equal to the initial index level, the payout will be par.

If a barrier rate event has occurred, investors will incur a loss at maturity representing full downside exposure to the percentage decline of Libor.

The payment at maturity will be contingent on a substitute or successor rate selected by the issuer, which may be subject to adjustment, if three-month Libor is discontinued

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 13.

The Cusip number is 17327P310.

© 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.