Citigroup aims to sell contingent coupon autocallables on two stocks

By Sarah Lizee

Olympia, Wash., Oct. 15 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Oct. 22, 2020 linked to the worse performing of the common stocks of Alphabet Inc. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9% if each stock closes at or above its 78% coupon barrier on the review date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any review date.

The payout at maturity will be par unless either stock finishes below its 78% barrier level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

The notes are guaranteed by Citigroup Global Markets Inc.

Citigroup Global Markets Inc. is the agent.

The notes will price on Oct. 18.

The Cusip number is 17324XMR8.

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