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Citi plans autocallable contingent coupon notes tied to two stocks
By Sarah Lizee
Olympia, Wash., June 19 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon notes due June 30, 2022 linked to the least performing of the common stocks of Lowe’s Cos. Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% to 9.1% if each underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
Starting in December, the notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless either stock finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the lesser performing stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on June 26.
The Cusip number is 17327TBH8.
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