Citigroup plans contingent coupon autocallables tied to three indexes

By Angela McDaniels

Tacoma, Wash., Dec. 6 – Citigroup Global Markets Holdings Inc. plans to autocallable market-linked securities with contingent coupon and contingent downside due Dec. 14, 2023 linked to worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the worst-performing index closes at or above its barrier value, 65% of its initial level, on the calculation day for that quarter. The contingent coupon rate is expected to be 6% to 7% per year and will be set at pricing.

The notes will be automatically called at par if the worst-performing index closes at or above its initial level on any quarterly calculation date from June 2020 to September 2023, inclusive.

If the final level of the worst-performing index is greater than or equal to its barrier value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level of the worst-performing index is less than its initial level.

The notes will be guaranteed by Citigroup, Inc.

Citigroup Global Markets Inc. is the lead agent with Wells Fargo Securities LLC as agent.

The notes will price Dec. 11.

The Cusip number is 17327TYY6.

© 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.