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Citi plans 9%-11% contingent coupon autocallables tied to Nvidia
By Susanna Moon
Chicago, Oct. 18 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Nov. 1, 2019 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9% to 11% if the underlying asset closes at or above its 75% coupon barrier on each trading day for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will receive a number of shares equal to the principal amount divided by the initial share price.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Oct. 29.
The Cusip number is 17324XEX4.
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