Citi to price contingent coupon autocallables linked to Amazon, Apple

By Angela McDaniels

Tacoma, Wash., July 3 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Aug. 3, 2018 linked to the worse performing of the common stocks of Amazon.com, Inc. and Apple Inc., 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 if the worse-performing stock closes at or above its barrier price, 80% of its initial share price, on the valuation date for that quarter. The contingent coupon rate is expected to be 8% to 10% and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the worse-performing stock closes at or above its initial share price on any quarterly potential redemption date.

If the final share price of the worse-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, the payout will be a number of shares of the worse-performing stock equal to $1,000 divided by its initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price July 31.

The Cusip number is 17324XCQ1.

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