Lucid Is Said to Offer Up to 7% Coupon on Convertible Bond

Lucid Group Inc. is offering a coupon of 6.5% to 7% on the overnight sale of $875 million of six-year convertible bonds, according to people familiar with the matter.

• Premium EV maker offering a 20% to 22.5% coupon on the bonds, said the people, who asked not to be identified because the information is private
• Citigroup Inc., Goldman Sachs Group Inc. and Bank of America Corp. are working on the offering: people
• Offering expected to price later Tuesday: people
• Representatives for Lucid, Citigroup and Goldman Sachs didn’t immediately respond to a request for comment; a representative for Bank of America ...