Citigroup plans contingent coupon autocallable notes linked to salesforce.com

By Devika Patel

Knoxville, Tenn., June 14 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due June 28, 2022 linked to the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.1% if salesforce.com stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter.

Beginning on Dec. 23, 2019 and ending on March 21, 2022, the notes will be automatically called at plus the contingent coupon if salesforce.com shares close at or above the initial share price on any quarterly valuation date.

If the final share price is greater than or equal to the final barrier price, 70% of the initial price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the stock from its initial price.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17327TBG0) will price June 21 and settle June 28.

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