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Citi plans 8.1%-9.1% contingent coupon autocalls on Cisco, Microsoft
By Susanna Moon
Chicago, Sept. 25 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Oct. 4, 2021 linked to the lesser performing of the common stocks of Cisco Systems, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8.1% to 9.1% if each underlying asset closes at or above its 65% coupon barrier on the valuation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either asset finishes below its 65% trigger level, in which case investors will receive par plus the return of the worse 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 Sept. 26.
The Cusip number is 17326YP59.
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