Citi plans two-year contingent coupon autocallables linked to stocks

By Susanna Moon

Chicago, Aug. 18 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Aug. 30, 2018 linked to the common stocks of Netflix, Inc., Halliburton Co. and salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annualized rate of 10.5% to 12.5% if each stock closes at or above the 50% coupon barrier level on the valuation date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any valuation date from November 2016 to May 2018.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below the 50% barrier level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 25.

The Cusip number is 17324CAA4.

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