Citi plans 13.4% six-month contingent coupon ELKS on tech stocks

By Susanna Moon

Chicago, March 1 – Citigroup Global Markets Holdings Inc. plans to price six-month autocallable contingent coupon Equity Linked Securities due Sept. 20, 2019 linked to the worse performing of the common stocks of Facebook, Inc., Alphabet, Inc., Netflix, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 13.4% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that month.

The notes will be called if each stock closes at or above its initial level on any observation date.

The payout at maturity will be par unless either stock finishes below its 70% downside threshold, in which case investors will receive a number of shares of the worse performing stock equal to par of $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on March 13.

The Cusip number is 17324XMK3.

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