Citigroup plans contingent coupon autocallable notes on three stocks

By Sarah Lizee

Olympia, Wash., Sept. 5 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 16, 2021 tied to the common stocks of Nvidia Corp., Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes carry a coupon of 20.5% per year, payable quarterly if each stock closes above its coupon barrier, 70% of its initial level, on the observation date for that period.

Starting in March 2020, the notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any observation date.

If the notes are not called and the final price of each stock is at least 70% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing stock.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Sept. 9.

The Cusip number is 17324XTT7.

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