Citi plans callable contingent coupon notes tied to Russell, Nasdaq

By Sarah Lizee

Olympia, Wash., Oct. 25 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon equity-linked securities due Nov. 1, 2029 tied to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent quarterly coupon at an annualized rate of 8% if each index closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that quarter.

After one year, notes will be callable at par plus the coupon on any quarterly valuation date other than the final valuation date.

If each index finishes at or above its final barrier, 60% of its initial level, the payout at maturity will be par plus any coupon due. Otherwise, investors will be fully exposed to the decline of the least-performing index.

Citigroup Global Markets Inc. is the agent.

The notes will price on Oct. 28.

The Cusip number is 17327TWM4.

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