Citigroup plans autocallable contingent coupon notes tied to Apple

By Emma Trincal

New York, March 10 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due March 15, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a semiannual contingent coupon at an annualized rate of 20.25% if the shares close at or above the 85% coupon barrier level on Sept. 10, 2020 and March 10, 2021.

The notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial price on any valuation date.

At maturity, investors will receive par if the shares decline by 15% or less and will lose 1% for each 1% that the share price declines from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17328VDR8) are expected to settle on March 13.

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