Citigroup plans contingent coupon autocallables tied to oil & gas ETF

By Angela McDaniels

Tacoma, Wash., Sept. 9 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 17, 2024 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of at least 10% per year if the stock closes at or above its barrier value, 50% of its initial share price, on the valuation date for that quarter.

The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly valuation date from September 2020 to June 2024.

If the final share price is greater than or equal to the barrier value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial share price.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 12.

The Cusip number is 17327TVR4.

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