Citigroup plans contingent coupon autocallables linked to Facebook

By Wendy Van Sickle

Columbus, Ohio, Feb. 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Feb. 28, 2019 linked to Facebook, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a contingent semiannual coupon at an annualized rate of 7.5% to 8.5% if Facebook stock closes at or above the barrier level, 80% of the initial price, on the valuation date for that period.

The notes will be called at par of $1,000 plus the contingent coupon if Facebook shares close at or above the initial share price on any valuation date.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 23.

The Cusip number is 17324XAY6.

© 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.