Citigroup plans callable contingent coupon notes tied to Kate Spade

By Marisa Wong

Madison, Wis., Sept. 2 – Citigroup Inc. plans to price callable contingent coupon equity-linked securities due Sept. 8, 2016 linked to Kate Spade & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.775% if Kate Spade stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 70% barrier level, in which case investors will receive par plus the stock return, with full exposure to losses.

The notes are callable on any contingent coupon payment date.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on Sept. 2.

The Cusip number is 1730T0X87.

© 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.