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Citi to price autocallable contingent coupon equity notes on Halliburton
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Dec. 20, 2017 based on the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% to 10% if Halliburton stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that period.
Beginning in March 2017, the notes will be automatically called at par plus the contingent coupon if Halliburton shares close at or above the initial share price on any valuation date.
If the notes are not called and the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Dec. 15.
The Cusip number is 17324XAM2.
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