Citigroup plans contingent coupon autocallables tied to three stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 7 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Dec. 3, 2018 linked to the common stocks of Staples, Inc., International Business Machines Corp. and Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each month, the notes will pay a contingent coupon at an annualized rate of 10% if each stock closes at or above the barrier price, 50% of the initial price, on the valuation date for that month.

The notes will be automatically called at par of $1,000 plus the contingent coupon if each stock closes at or above its initial price on any quarterly valuation date.

If the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the worst performing stock.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Nov. 25.

The Cusip number is 17324CCQ7.

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