Citi plans autocallable contingent coupon notes on Phillips 66, Ford

By Wendy Van Sickle

Columbus, Ohio, Aug. 15 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due August 2017 linked to the common stocks of Phillips 66 and Ford Motor Co., 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 an annualized rate of 15.5% to 17.5% if each stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par of $1,000 plus the contingent coupon if both stocks close at or above their initial share prices on any valuation date other than the final one.

If the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on Aug. 16.

The Cusip number is 17324CA97.

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