Citigroup plans contingent coupon callables tied to S&P, Russell, Dow

By Devika Patel

Knoxville, Tenn., June 21 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due June 29, 2029 linked to the worse performing of the S&P 500 index, the Russell 2000 index and the 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 6.65% if each index closes at or above its 60% coupon barrier on the review date for that quarter.

Beginning in June 2020 and ending in March 2029, the notes are callable at par on any coupon payment date.

The payout at maturity will be par plus the coupon unless any index finishes below its 60% final barrier 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: 17327TBL9) will price on June 26 and settle on June 28.

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