Citigroup plans trigger autocallables linked to S&P 500, MSCI Emerging Markets

By Angela McDaniels

Tacoma, Wash., May 23 – Citigroup Global Markets Holdings Inc. plans to price trigger autocallable contingent yield notes due May 31, 2024 linked to the lesser performing of the S&P 500 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at the rate of 7.5% to 8.5% per year if each index closes at or above its downside threshold, 70% of its initial level, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

Citigroup Global Markets Inc. is the underwriter. UBS Financial Services Inc. is acting as agent.

The notes will price May 29.

The Cusip number is 17327P385.

© 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.