Citigroup plans contingent coupon autocallables on China-focused ETF

By Toni Weeks

San Luis Obispo, Calif., July 8 – Citigroup Inc. plans to price autocallable contingent coupon equity-linked securities due July 31, 2020 linked to the Deutsche X-trackers Harvest CSI 300 China A-Shares exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 10% if the fund closes at or above the coupon barrier level, 70% of the initial price, on the valuation date for that interest period. The exact contingent coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the fund closes at or above the initial level on any quarterly valuation date beginning July 28, 2016.

If the notes are not called and the final share price closes at or above the 70% barrier level, the payout at maturity will be par plus the last coupon.

Otherwise, investors will be fully exposed to any losses.

Citigroup Global Markets Inc. is the underwriter.

The notes will price July 28.

The Cusip number is 17298CCV8.

© 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.