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Citigroup plans contingent coupon autocallables linked to two stocks
By Susanna Moon
Chicago, June 21 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due July 2, 2019 linked to the worse performing of the common stocks of JPMorgan Chase & Co. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annualized rate of 8% to 9% if each stock closes at or above its 80% coupon barrier on the valuation date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly valuation date from December 2017 through December 2018.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below the 80% barrier level, in which case investors will receive a number of shares of the worse performing stock equal to $1,000 divided by the initial share price.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on June 27.
The Cusip number is 17324XCG3.
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