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Citibank to price market-linked CDs tied to basket of three indexes
By Marisa Wong
Morgantown, W.Va., March 25 – Citibank, NA plans to price 0% market-linked certificates of deposit due March 29, 2024 linked to an equally weighted basket of three indexes, according to a term sheet.
The basket consists of the Euro Stoxx 50 index, the Hang Seng index and the S&P 500 index.
The payout at maturity will be par plus the greater of the market-linked return and the minimum return, which is expected to be 6% to 8%. The market-linked return is the average basket return, subject to a floor of zero. The average basket return is the average of the interim basket return percentages as measured on each of the quarterly valuation dates.
Citigroup Global Markets Inc. is the agent. Advisors Asset Management is distributor.
The CDs will price on March 26.
The Cusip number is 17294XPP5.
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