Citi to price autocallable equity-linked securities tied to two ETFs

By Sarah Lizee

Olympia, Wash., June 18 – Citigroup Global Markets Holdings Inc. plans to price autocallable equity-linked securities due June 24, 2020 tied to the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes carry a coupon of 13.05% per year, payable monthly.

The notes will be automatically redeemed at par plus interest if each ETF closes at or above its initial price on Sept. 19, 2019, Dec. 19, 2019 or March 19, 2020.

If the notes are not called both ETFs have never closed below 60% of their initial prices during the life of the notes, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any decline of the lesser performing ETF from its initial price.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on June 19.

The Cusip number is 17327TBD7.

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