Citi eyes callable contingent coupon notes tied to three indexes

By Sarah Lizee

Olympia, Wash., Dec. 9 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due Dec. 13, 2024 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent monthly coupon at an annualized rate of 6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.

The notes will be callable in whole at par plus any coupon due on any quarterly call date starting Dec. 15, 2020.

If each index finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline of the least-performing index.

Citigroup Global Markets Inc. is the agent.

The notes will price on Dec. 10.

The Cusip number is 17327TW85.

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