Citigroup eyes autocallable securities due 2024 on Russell, Dow

By Sarah Lizee

Olympia, Wash., July 9 – Citigroup Global Markets Holdings Inc. plans to sell 0% autocallable securities due July 31, 2024 linked to the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will be automatically called at par plus an annualized redemption premium of 8% to 9% if the closing price of each underlying index is at or above its initial level on any quarterly redemption date beginning July27, 2020.

If the notes are not called, the payout at maturity will be par plus the 40% to 45% premium if each index finishes above its respective initial level.

The payout will be par if the worst performing index falls by up to 70% of its initial level. If either underlying index finishes below the 70% trigger level investors will lose 1% for each 1% decline of the least-performing index.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17327TTL0) will price on July 26.

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