Citigroup plans contingent coupon autocallables on Apple, Capital One

By Tali Rackner

Norfolk, Va., Dec. 30 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Jan. 25, 2018 linked to the worst performing of the common stocks of Apple Inc. and Capital One Financial Corp., 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 8% to 8.5% if each stock closes at or above its barrier price, 70% of its initial share price, on the valuation date for that quarter. The exact coupon will be set at pricing.

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 valuation date.

If the final share price of the lesser-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a fixed number of the lesser-performing underlying shares equal to the applicable equity ratio or the cash value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Jan. 20 and settle three business days after pricing.

The Cusip number is 17324XAP5.

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