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Citibank plans to price contingent upside participation CDs linked to Dow Jones Industrial Average
By Angela McDaniels
Tacoma, Wash., Aug. 30 - Citibank, NA plans to price 0% contingent upside participation market-linked certificates of deposit due Sept. 21, 2016 linked to the Dow Jones Industrial Average, according to a term sheet.
If the index remains at or below 140% to 150% of the initial level - the exact amount will be set at pricing - throughout the life of the CDs, the payout at maturity will be par plus the index return, subject to a floor of par. Otherwise, the payout will be par plus 9%.
The CDs (Cusip: 172986CG4) are expected to price Sept. 24 and settle Sept. 29.
Citigroup Global Markets Inc. is the agent.
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