Citi plans to price contingent income autocallable securities on Tesla

By Emma Trincal

New York, Sept. 9 – Citigroup Global Markets Holdings Inc. plans to price contingent income autocallable securities due September 2025 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at the rate of 20.75% per year if the stock closes at or above its coupon barrier level, 50% of its initial level, on the corresponding determination date.

The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par plus the final coupon unless the stock finishes below its downside threshold, 50% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from its initial level.

Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a selected dealer.

The notes are expected to price on Sept. 16 and to settle on Sept. 21.

The exact maturity date is expected to be Sept. 19, 2025.

The Cusip number is 17330U298.

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