Citigroup plans contingent coupon autocallables on FedEx, Walgreens

By Wendy Van Sickle

Columbus, Ohio, Jan. 17 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due July 26, 2022 linked to the least performing of the common stocks of FedEx Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of at least 8.55% per year if the least-performing stock closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that quarter.

The notes will be automatically called at par if the least-performing stock closes at or above 93% of its initial share price on any quarterly valuation date.

The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 70% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing stock.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Jan. 21.

The Cusip number is 17327T5N2.

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