Citigroup to price contingent coupon autocallables on GM, Home Depot

By Marisa Wong

Morgantown, W.Va., Jan. 5 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Jan. 11, 2019 linked to the lesser performing of the common stock of General Motors Co. and the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Each quarter, the notes pay a contingent coupon at an annualized rate of 8% to 10% if the lesser-performing stock closes at or above its barrier price, 77.5% of its initial share price, on the valuation date for that quarter.

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

If the final share price of the lesser-performing stock is greater than or equal to its 77.5% barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, the payout will be a number of shares of the lesser-performing stock equal to $1,000 divided by the initial share price of that stock or, at the issuer’s option, an amount in cash equal to the value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Jan. 8.

The Cusip number is 17324XJL5.

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