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Citigroup plans airbag return optimization notes tied to Euro Stoxx 50
By Marisa Wong
Madison, Wis., Jan. 7 - Citigroup Inc. plans to price 0% airbag return optimization securities due Jan. 31, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the return, subject to a maximum return of 50% to 58% that will be set at pricing.
Investors will receive par for losses up to 15% and will share in losses at a rate of 1.1765% per 1% decline beyond 15%.
The notes (Cusip: 17321F342) are expected to price on Jan. 29 and settle on Jan. 31.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as agent.
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