Citigroup plans contingent coupon autocallables on Target, Wal-Mart

By Marisa Wong

Morgantown, W.Va., Nov. 22 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Dec. 2, 2020 linked to the least performing of the common stocks of Target Corp. and Wal-Mart Stores, Inc., 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 an annual rate of 9% to 9.5% if each stock closes at or above its 60% coupon barrier on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly valuation date after six months.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 60% barrier level, in which case investors will be fully exposed to any decline of the worse performing stock.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Nov. 24.

The Cusip number is 17324CPC4.

© 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.