Citi plans 10.05% contingent coupon autocalls tied to three stocks

By Susanna Moon

Chicago, Aug. 28 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Sept. 8, 2025 linked to the lesser performing of the common stocks of Schlumberger NV, Halliburton Co. and BP plc, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 10.05% if each underlying asset closes at or above its 60% coupon barrier on each trading day for that quarter.

The notes will be called at par if each stock closes at or above its 90% call level on any quarterly observation date after six months.

The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors will receive par plus the return of the worst performing asset with full exposure to any losses.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 29.

The Cusip number is 17326YWQ5.

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