Citibank to price variable coupon CDs linked to five tech stocks

By Sarah Lizee

Olympia, Wash., June 19 – Citibank, NA plans to price variable coupon market-linked certificates of deposit due June 27, 2025 linked to the worst performing of the common stocks of Facebook, Inc., Amazon.com, Inc., Apple Inc., Netflix, Inc. and Alphabet Inc., according to a term sheet.

The CDs will pay an annual coupon. For each coupon payment date, if the closing price of each stock on the immediately preceding valuation date is greater than or equal to the initial price, the coupon will be 4% to 5%; otherwise, the coupon will be 1%. The exact higher coupon rate will be set at pricing.

The payout at maturity will be par plus the final coupon.

Citigroup Global Markets Inc. is the agent. Advisors Asset Management is distributor.

The CDs will price on June 25.

The Cusip number is 17294XTM8.

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