Citi plans autocallable contingent coupon equity notes on Apple, Amazon

By Tali Rackner

Norfolk, Va., March 14 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due March 28, 2018 linked to the common stocks of Apple Inc. and Amazon.com Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annualized rate of 8% to 9% if each stock closes at or above the barrier price, 77.5% of the initial price, on the valuation date for that quarter.

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 valuation 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 a fixed number of shares of the lesser-performing stock equal to the applicable equity ratio or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on March 23.

The Cusip number is 17324XBL3.

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