Citi plans trigger autocallable contingent yield notes tied to indexes

By Angela McDaniels

Tacoma, Wash., May 23 – Citigroup Global Markets Holdings Inc. plans to price trigger autocallable contingent yield notes due May 28, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 7.5% to 7.8% per year and will be set at pricing.

Beginning May 29, 2018, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.

The notes will price May 26.

The Cusip number is 17325K180.

© 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.