Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPDR S&P 500 ETF Trust > News item |
Citi plans dual directional barrier securities on SPDR S&P 500 ETF
By Sarah Lizee
Olympia, Wash., Feb. 12 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due Aug. 31, 2021 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the gain, up to a maximum return of 18% to 21%.
If the ETF falls but finishes at or above the 75% barrier level, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Feb. 26.
The Cusip number is 17324XME7.
© 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.