Citigroup plans autocallable equity-linked securities on Micron

By Wendy Van Sickle

Columbus, Ohio, Feb. 20 – Citigroup Global Markets Holdings Inc. plans to price autocallable equity-linked securities due Feb. 27, 2020 tied to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will carry a coupon at a rate of 12% per year, payable quarterly.

The notes will be automatically redeemed at par plus the coupon if Micron shares close at or above the initial price on any observation date.

The payout at maturity will be par if the final share price is greater than the downside threshold, 60% of the initial price. Otherwise, the payout will be a number of Micron shares equal to the equity ratio divided by the initial price or, at the issuer’s option, an equivalent amount in cash.

Citigroup Global Markets Inc. is the agent.

The notes will price on Feb. 22.

The Cusip number is 17326YC95.

© 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.