Citigroup to price contingent coupon callables linked to indexes, ETF

By Devika Patel

Knoxville, Tenn., May 10 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due May 22, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent monthly coupon at an annual rate of 7.8% if each underlying closes at or above its 60% coupon barrier level on the review date for that month.

Beginning in May 2020 and ending in February 2023, the notes are callable monthly at par on any coupon payment date.

The payout at maturity will be par plus the final coupon unless any underlying finishes below its 60% final barrier level, in which case investors will lose 1% for each 1% decline of the worst performing underlying from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17326YRA6) will price on May 17 and settle on May 22.

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