Citi to price contingent coupon autocalls tied to two ETFs

By Sarah Lizee

Olympia, Wash., Aug. 21 – Citigroup Global Markets Holdings Inc. plans to price autocalable contingent coupon equity-linked notes due March 1, 2022 linked to the least performing of the Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if each ETF closes at or above its 63% coupon barrier on the observation date for that period.

The notes will be called at par if each ETF closes at or above its initial level on any quarterly autocall date.

The payout at maturity will be par unless any ETF finishes below its 63% knock-in level, in which case investors will receive a number of shares of the least performing ETF equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 24.

The Cusip number is 17324XS76.

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