Citigroup to price 6.8%-7.8% airbag autocallables linked to Alphabet

By Angela McDaniels

Tacoma, Wash., Jan. 24 – Citigroup Global Markets Holdings Inc. plans to price 6.8% to 7.8% airbag autocallable yield notes due Feb. 4, 2020 linked to the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Alphabet shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Alphabet shares equal to $1,000 divided by the conversion price. The conversion price will be 90% of the initial share price.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.

The notes are expected to price Jan. 29.

The Cusip number is 17326W712.

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