Citigroup plans contingent coupon autocallables tied to Apple, Alphabet

By Tali Rackner

Norfolk, Va., Feb. 14 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Aug. 24, 2018 linked to the lesser-performing of the common stock of Apple Inc. and the class A common stock of Alphabet 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 semiannual coupon at an annual rate of 8.5% to 10% if each stock closes at or above the barrier level, 80% of the initial level, on the valuation date for that period.

The notes will be called at par plus the contingent coupon if each stock closes at or above the initial share price on any semiannual valuation date from August 2017 through February 2018.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below the 80% barrier level, in which case investors will receive a number of shares of the lesser-performing stock equal to the principal divided by the initial share price, or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 21.

The Cusip number is 17324XBB5.

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