Citigroup plans 8%-9% contingent coupon ELKS tied to Facebook, Apple

New York, May 10 – Citigroup Global Markets Holdings Inc. plans to price 8% to 9% autocallable contingent coupon Equity Linked Securities due May 28, 2019 linked to the worse performing of the class A common stock of Facebook, Inc. and the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter the securities will pay a contingent coupon at an annual rate of 8% to 9% if both stocks close above their coupon barriers on the valuation date for that quarter. The coupon barriers will be 75% of the initial level and the exact interest rate will be set at pricing.

If both stocks close at or above their initial prices on any quarterly valuation date from August 2018 to February 2019 then the notes will be automatically called at par.

The payout at maturity will be par unless either stock finishes below its 75% final barrier price, in which case investors will receive a number of shares of the worse performing stock equal to par of $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 22 and settle three days later.

The Cusip number is 17324XLL2.

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