Citigroup plans contingent coupon autocalls on Apple, Target

By Emma Trincal

New York, Aug. 11 – Citigroup Global Markets Holdings Inc. plans to price 0% autocallable contingent coupon equity-linked securities due Aug. 16, 2021 linked to the worst performing of Apple Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13% if each stock closes at or above its 70% coupon barrier on the review date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly review date.

The payout at maturity will be par unless either stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worse performing stock.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 11 and settle on Aug. 14.

The Cusip number is 17324XV49.

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