Citigroup eyes 9.1% autocallable securities due 2028 on Russell, Stoxx

By Sarah Lizee

Olympia, Wash., Nov. 9 – Citigroup Global Markets Holdings Inc. plans to sell 9.1% autocallable securities due Nov. 20, 2028 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The quarterly coupon is payable until Nov. 20, 2020.

The notes will be automatically called at par plus a quarterly redemption premium of 2.275% if the closing price of each underlying index is at or above its initial level on any of the 32 quarterly redemption dates beginning Feb. 16, 2021.

If the notes are not called, the payout at maturity will be par plus 72.8% if each index finishes above its respective initial level. The exact contingent maximum return will be set at pricing.

The payout will be par if either or both indexes fall by up to 50%. If one or both underlying indexes finish below 50% of their respective initial prices, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17326YJB3) will price on Nov. 12 and settle on Nov. 15.

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