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Prospect News home > News index > List of issuers I > Headlines for iShares MSCI EAFE exchange-traded fund > News item |
Citi plans 6.75%-7.25% contingent coupon autocalls on index, funds
By Susanna Moon
Chicago, Jan. 18 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Jan. 27, 2022 linked to the worst performing of the Russell 2000 index, iShares MSCI EAFE exchange-traded fund and SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 6.75% to 7.25% if each underlying component closes at or above its 60% coupon barrier on the valuation date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial share price on any quarterly valuation date after one year.
The payout at maturity will be par plus the contingent coupon unless any component finishes below its 60% barrier level, in which case investors will be exposed to any losses of the worst performing component.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
The notes will price on Jan. 22.
The Cusip is 17324CQV1.
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