Citigroup plans contingent coupon autocallable notes tied to Celgene

By Susanna Moon

Chicago, Oct. 7 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Oct. 24, 2017 linked to Celgene Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 8.5% if the stock closes at or above the coupon barrier level, 75% 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 called at par plus the contingent coupon if the shares close at or above the initial share price on any valuation date from January 2017 until July 2017.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% barrier level, in which case investors will receive a number of Celgene shares 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 will price on Oct. 19.

The Cusip number is 17324CBL9.

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