Citigroup plans contingent coupon autocallables linked to Caterpillar

By Tali Rackner

Norfolk, Va., Feb. 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Feb. 25, 2020 linked to the common stock of Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 8.25% to 9.25% if Caterpillar shares close at or above the barrier price, 70% of the initial share price, on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any semiannual valuation date from May 2017 through November 2019.

The payout at maturity will be par plus the contingent coupon unless Caterpillar stock finishes below the 70% barrier price, in which case investors will lose 1% for each 1% that the stock declines.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 17.

The Cusip number is 17324CF76.

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