Citigroup plans contingent coupon notes linked to S&P, Nasdaq, Dow

By Angela McDaniels

Tacoma, Wash., Nov. 22 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due Nov. 30, 2029 linked to the least performing of the S&P 500 index, the Nasdaq-100 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 at the rate of 8.3% per year if the least-performing index closes at or above its coupon barrier value, 70% of its initial level, on the valuation date for that quarter.

The notes will be callable at par quarterly from November 2020 through August 2029.

The payout at maturity will be par unless the least-performing index finishes below its final barrier value, 60% of its initial 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 Nov. 27.

The Cusip number is 17327TYQ3.

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