Citi plans autocallable contingent coupon autocalls on S&P, Stoxx

By Sarah Lizee

Olympia, Wash., June 12 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due July 2, 2024 linked to the Euro Stoxx 50 index and the S&P 500 index, 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 6% to 6.5% if each index closes at or above 75% of its initial level on the valuation date for that quarter.

Beginning in June 2020 and ending in March 2024, the notes are callable in whole at par on any contingent coupon payment date.

The payout at maturity will be par plus the final coupon unless either index finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17326YM37) will price on June 27.

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