Citigroup plans contingent coupon notes linked to Nasdaq, Russell, Dow

By Angela McDaniels

Tacoma, Wash., Aug. 8 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due Aug. 30, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the least-performing index closes at or above its barrier level, 70% of its initial level, on the valuation date for that quarter. The contingent coupon rate is expected to be 6.85% to 7.85% per year and will be set at pricing.

The notes will be callable at par quarterly from August 2020 to May 2024.

The payout at maturity will be par unless the least-performing index finishes below its barrier level, in which case investors will be exposed to the least-performing index’s decline from its initial level.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Aug. 27.

The Cusip number is 17327TKS4.

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