Citigroup plans 17.5% to 18.5% autocallables linked to Hertz stock

New York, July 21 – Citigroup Global Markets Holdings Inc. plans to price 17.5% to 18.5% autocallable equity linked securities due July 31, 2018 linked to the common stock of Hertz Global Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The coupon will be set at pricing and will be paid monthly.

Beginning in October 2017 and ending in June 2018, the notes will be automatically called at par of $1,000 plus the contingent coupon if Hertz shares close at or above the initial share price on any valuation date.

If the final share price is greater than or equal to the 50% downside threshold price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors receive a number of Hertz shares equal to $1,000 divided by the initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 26 and settle three business days later.

The Cusip is 17324XCU2.

© 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.