Citigroup plans 7% contingent coupon callables on S&P, Russell, Dow

By Devika Patel

Knoxville, Tenn., June 22 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due July 20, 2023 linked to the worse performing of the S&P 500 index, the Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Global Markets Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 65% coupon barrier on the review date for that quarter.

Beginning in July 2019 and ending in April 2023, the notes are callable at par on any coupon payment date.

The payout at maturity will be par plus any coupon unless any index finishes below its 55% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17324CWQ5) will price on July 16 and settle on July 19.

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