Citi plans autocallable contingent coupon equity notes on three stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 16 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Dec. 3, 2018 based on the class A common stock of Dish Network Corp., and the common stocks of Merck & Co., Inc. and International Business Machines Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent monthly coupon at an annualized rate of about 10% if each stock closes at or above the barrier price, 60% of the initial price, on the valuation date for that period.

Beginning in February 2017, the notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly redemption date.

If the notes are not called and 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 be fully exposed to the decline in the share price of the worst performing stock.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Nov. 25.

The Cusip number is 17324CCT1.

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