Citigroup plans contingent coupon autocallable notes on Dish Network

By Wendy Van Sickle

Columbus, Ohio, Jan. 9 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Feb. 1, 2018 linked to the class A common stock of Dish Network 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 9.5% if Dish Network stock closes at or above the barrier price, 72.5% of the initial price, on the valuation date for that quarter. The exact contingent coupon rate will be set at pricing.

Beginning in April 2017, the notes will be automatically called at par of $1,000 plus the contingent coupon if Dish Network shares close at or above the initial share price on any valuation date until October 2017.

If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors receive a number of Dish Network 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 Jan. 27.

The Cusip number is 17324XAT7.

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