Citi plans trigger autocallable contingent yield notes on S&P, MSCI EM

By Sarah Lizee

Olympia, Wash., Nov. 6 – Citigroup Global Markets Holdings Inc. plans to price trigger autocallable contingent yield notes due Nov. 21, 2023 linked to the least performing of the S&P 500 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Each quarter, the notes pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on each day that quarter. The contingent coupon rate will be 8.1% to 9.1% per year and will be set at pricing.

The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called and each index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.

The notes will price on Nov. 16.

The Cusip number is 17326X793.

© 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.