Citi to sell autocallable contingent coupon notes on Alphabet, Intel

By Devika Patel

Knoxville, Tenn., Sept. 17 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Sept. 30, 2021 linked to the worse performing of the common stocks of Alphabet Inc. and Intel Corp., 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 at an annualized rate of 9.3% if both stocks close at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter.

Beginning on Dec. 26, 2018 and ending on June 28, 2021, the notes will be automatically called at par of $1,000 plus the contingent coupon if both stocks shares close at or above their initial prices on a quarterly valuation date.

If the final price of the worse performing stock is greater than or equal to the final barrier price, 70% of the initial price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the worse performing stock from its initial price.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17326YBZ8) are expected to price Sept. 26 and settle Sept. 28.

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