Citigroup to price step down trigger autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., Aug. 23 – Citigroup Global Markets Holdings Inc. plans to price 0% step down trigger autocallable notes due Aug. 28, 2020 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will be automatically called at par of $10 plus 7% per year if each index closes at or above its call threshold level on any annual observation date. For each index, the call threshold level will be equal to the initial index level for Aug. 24, 2018 and Aug. 26, 2019 and 65% of the initial index level for Aug. 24, 2020.

If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 65% of its initial level, and investors will be exposed to the decline of the least-performing index from its initial level.

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

The notes will price Aug. 24.

The Cusip number is 17325K214.

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