Citigroup plans contingent coupon autocallables tied to two stocks

By Susanna Moon

Chicago, Oct. 19 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Oct. 29, 2020 linked to the least performing of the common stocks of Home Depot, Inc. and Lowe’s Cos., 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 7.5% to 8.5% if each stock closes at or above its coupon barrier, 75% of its initial price, on the valuation date for that quarter.

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

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 75% trigger level, in which case investors will be fully exposed to the decline of the worse performing stock.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Oct. 26.

The Cusip number is 17324CN77.

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