Citigroup plans contingent income autocalls due 2022 on gold ETF

By Sarah Lizee

Olympia, Wash., Feb. 6 – Citigroup Global Markets Holdings Inc. plans to price contingent income autocallable securities due Feb. 11, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 8.5% if the underlying ETF closes at or above the 80% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any valuation date other than the final date.

The payout at maturity will be par unless the ETF finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is handling distribution.

The notes will price on Feb. 8.

The Cusip number is 17326W639.

© 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.