Citigroup plans contingent coupon autocallables linked to three stocks

By Angela McDaniels

Tacoma, Wash., Sept. 2 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 22, 2017 linked to the worst performing of the common stock of Amazon.com, Inc., the common stock of Apple Inc. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon if the worst-performing stock closes at or above its barrier price, 70% of its initial share price, on the valuation date for that quarter. The contingent coupon rate is expected to be 8% to 9% per year and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the worst-performing stock closes at or above its initial share price on any quarterly potential redemption date.

If the final share price of the worst-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, the payout will be 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 shares.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 19.

The Cusip number is 17324CAP1.

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