Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Facebook, Inc. > News item |
Citigroup plans contingent coupon autocallables on Facebook, Alphabet
By Devika Patel
Knoxville, Tenn., Dec. 27 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Jan. 14, 2019 linked to Facebook, Inc. and Alphabet Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at an annualized rate of between 8% and 9% if the worst-performing stock closes at or above its coupon barrier price, 80% of its initial share price, on the valuation date for that quarter. The exact coupon will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if the worst-performing stock closes at or above its initial share price on any quarterly valuation date beginning in April 2018 and ending in October 2018.
If the final share price of the worst-performing stock is greater than or equal to its final barrier price, 80% of its initial share price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the worst-performing stock from its initial level.
Citigroup Global Markets Inc. is the agent.
The notes (Cusip: 17324XFX3) will price Jan. 9 and settle three business days after pricing.
© 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.