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Citigroup plans contingent return optimization securities on S&P 500
By Jennifer Chiou
New York, Feb. 3 – Citigroup Inc. plans to price 0% contingent return optimization securities due Feb. 28, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of 10% and the index return. The payout will be subject to a maximum return of 33% to 40% that will be set at pricing.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial level.
The notes (Cusip: 17323B307) will price on Feb. 24 and settle on Feb. 27.
Citigroup Global Markets Inc. is the underwriter. Distribution will be through UBS Financial Services Inc.
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