Citigroup to price contingent coupon autocallables linked to stocks

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 15, 2022 linked to the worst performing of the common stocks of Clorox Co., Goldman Sachs Group, Inc., Hess Corp. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 15.5% per year if the worst-performing stock closes at or above its final barrier value, 60% of its initial share price, on the valuation date for that quarter.

The notes will be automatically called at par if the worst-performing stock closes at or above its autocall value, 90% of its initial share price, on any quarterly valuation date other than the final one.

If the final share price of the worst-performing stock is greater than or equal to its final barrier value, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those stocks.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 10.

The Cusip number is 17324XTB6.

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