Citibank plans to price certificates of deposit linked to 10 stocks

By Angela McDaniels

Tacoma, Wash., Aug. 4 - Citibank, NA plans to price market-linked certificates of deposit due Aug. 31, 2018 linked to a basket of common stocks, according to a term sheet.

The basket includes equal weights of AT&T Inc., Barrick Gold Corp., Amazon.com Inc., Bristol-Myers Squibb Co., Coca-Cola Co., General Mills, Inc., Intel Corp., Time Warner Cable Inc., Wells Fargo & Co. and Whole Foods Market, Inc.

The CDs will pay a coupon in September of each year equal to the sum of the weighted returns for the basket components. If a basket component's underlying return is positive, its return will be fixed at 8% to 10%, with the exact percentage to be set at pricing. Otherwise, its return will be equal to its underlying return, subject to a floor of negative 25%.

The payout at maturity will be par.

The CDs (Cusip: 172986FL0) are expected to price Aug. 25 and settle Aug. 30.

Citigroup Global Markets Inc. is the agent. Advisors Asset Management, Inc. is the distributor.

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