Citigroup plans contingent coupon autocallables on Amazon, Facebook

By Tali Rackner

Minneapolis, Oct. 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Nov. 4, 2022 linked to the lesser performing of the common stock of Amazon.com 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 each stock closes at or above its barrier price, 80% of its initial share price, on the valuation date for that quarter. The contingent coupon rate is expected to be 9% to 10% per year and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly potential redemption date between January 2018 and July 2020.

If the final share price of the lesser-performing stock is greater than or equal to its 80%barrier price, the payout at maturity will be par plus the contingent coupon.

Otherwise, the payout will be a number of shares of the lesser-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 on Oct. 20.

The Cusip number is 17324XHC7.

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