Citi plans 9.5%-10.5% contingent coupon autocallables tied to stocks

By Susanna Moon

Chicago, Feb. 2 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Feb. 13, 2019 linked to the worse performing of the common stocks of Apple Inc. and Wal-Mart Stores, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.5% to 10.5% if each stock closes at or above its 80% coupon barrier on the valuation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly valuation date from May 2018 through November 2018.

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

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Feb. 8.

The Cusip number is 17324XGV6.

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