Citi to price autocallable contingent coupon linked to index, ETF

By Sarah Lizee

Olympia, Wash., Feb. 21 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Aug. 30, 2027 linked to the least performing of the S&P 500 Dynamic Participation index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes pay a contingent coupon at the rate of 10% to 12% per year if the least-performing underlier closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that period.

The notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on any monthly call observation date after one year.

The payout at maturity will be par unless the any underlier finishes below 80% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 25.

The Cusip number is 17327TD78.

© 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.