Citibank to price CDs linked to Citi ETF Market Pilot 5 Excess Return

By Angela McDaniels

Tacoma, Wash., Nov. 7 – Citibank, NA plans to price 0% market-linked certificates of deposit due Nov. 29, 2023 linked to the Citi ETF Market Pilot 5 Excess Return index, according to a term sheet.

If the index return is greater than zero, the payout at maturity will be par plus 125% to 150% of the index return. The exact participation rate will be set at pricing. If the index return is less than or equal to zero, the payout will be par.

The index tracks the hypothetical performance of a rules-based investment methodology that, once each month, selects a hypothetical investment portfolio to track for the next month. The selected portfolio for each month is selected from a universe of eligible constituents consisting of 12 exchange-traded funds representing the following asset classes: global equities, fixed income, commodities, real estate equities and preferred stock. In certain circumstances, the selected portfolio may also include, or be composed solely of, a hypothetical money market instrument with a return equal to Libor.

Citigroup Global Markets Inc. is the placement agent, and Incapital LLC is distributor.

The CDs will price Nov. 23.

The Cusip number is 17294XAF3.

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