Citi plans autocallable contingent coupon notes tied to two stocks

By Sarah Lizee

Olympia, Wash., June 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon notes due Dec. 31, 2020 linked to the least performing of the common stocks of Walt Disney Co. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 9% if each underlying stock closes at or above its 75% coupon barrier on the observation date for that quarter.

Starting in September, the notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.

The payout at maturity will be par plus the coupon unless either stock finishes below its 75% trigger level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on June 26.

The Cusip number is 17324XPX2.

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