Citigroup plans contingent coupon autocallables linked to tech stocks

By Angela McDaniels

Tacoma, Wash., July 9 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due July 29, 2020 linked to the worst performing of the common stocks of Amazon.com, Inc., Alphabet Inc., Netflix, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 14% per year if the worst-performing stock closes at or above its barrier value, 70% of its initial share price, on the valuation date for that month.

Beginning Oct. 24, the notes will be automatically called at par if the worst-performing stock closes at or above its initial share price on any monthly valuation date other than the final one.

If the final share price of the worst-performing stock is greater than or equal to its barrier value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst-performing stock declines from its initial share price.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price July 24.

The Cusip number is 17327THR0.

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