Citigroup plans to price contingent coupon autocalls tied to oil ETF

By Sarah Lizee

Olympia, Wash., July 18 – Citigroup Global Markets Holdings Inc. plans to price contingent coupon autocallable notes due Aug. 2, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if the underlying closes at or above its 85% coupon barrier on the observation date for that period.

Starting in January 2020, the notes will be called at par if the underlying closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless the underlying closes below its 85% buffer level, in which case investors will lose 1% for every 1% decline of the underlying beyond 15%.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 29.

The Cusip number is 17324XQU7.

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