Citigroup plans contingent coupon autocallables tied to ETFs, Russell

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 22, 2023 linked to the least performing of the Russell 2000 index, the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of at least 10% per year if the least-performing underlier closes at or above its final barrier value, 60% of its initial level, on the valuation date for that quarter.

Beginning in September 2020, the notes will be automatically called at par if the least-performing underlier closes at or above its initial level on any quarterly valuation date other than the final one.

The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 19.

The Cusip number is 17327TWF9.

© 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.