Citigroup plans to price variable coupon notes linked to 10 stocks

By Angela McDaniels

Tacoma, Wash., Sept. 10 – Citigroup Inc. plans to price variable coupon notes due Sept. 16, 2022 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stocks of Alcoa Inc., Apple Inc., Baidu, Inc., Best Buy Co., Inc., Biogen Inc., Concho Resources Inc., Delphi Automotive plc, Endo International plc, Newmont Mining Corp. and Halliburton Co.

The notes will pay a coupon each year equal to the sum of the basket stocks' weighted performances, subject to a minimum rate of 1%.

If a basket stock's return is zero or positive, its performance will be 8% to 8.5%, with the exact rate to be set at pricing. If a basket stock's return is negative, its performance will be the greater of its return and negative 30%.

The payout at maturity will be par plus the final coupon.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Sept. 11.

The Cusip number is 17298C2F4.

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