Citigroup plans contingent coupon autocallables linked to Prudential

By Angela McDaniels

Tacoma, Wash., March 28 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Oct. 2, 2020 linked to the common stock of Prudential Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at the rate of 9.3% per year if the stock closes at or above its barrier value, 70% of its initial share price, on the valuation date for that quarter.

Beginning in September 2019, the notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly potential redemption date.

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

Citigroup Global Markets Inc. is the underwriter.

The notes will price March 29.

The Cusip number is 17326YPK6.

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