Citigroup plans contingent coupon autocallables tied to CVS Health

By Sarah Lizee

Olympia, Wash., March 20 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due April 2, 2020 linked to CVS Health Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 12.45% if the underlying stock closes at or above its 75% coupon barrier on the applicable quarterly observation date.

The notes will be called at par if the stock closes at or above its initial level on any quarterly review date.

The payout at maturity will be par unless the stock finishes below its 75% barrier level, in which case investors will receive a fixed number of underlying shares equal to the equity ratio, which is the principal amount divided by the initial index value, or, at the issuer’s option, the cash value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on March 28.

The Cusip number is 17324XJE1.

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