Citigroup plans contingent coupon autocalls on Dow, Russell, Nasdaq

By Sarah Lizee

Olympia, Wash., Nov. 19 – Citigroup Global Markets Holdings Inc. plans to sell autocallable contingent coupon equity-linked securities due Jan. 2, 2024 linked to the worst performing of the Dow Jones Industrial Average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each month, the notes will pay a contingent coupon at an annualized rate of between 8% to 9% if the worst-performing index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period. The exact coupon will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the worst-performing index closes at or above its initial level on any quarterly autocall date beginning in December 2019.

If the final level of the worst-performing index is greater than or equal to its final barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst-performing index from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17326YWT9) will price Dec. 27 and settle Jan. 2.

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