Citigroup plans contingent coupon autocallable notes on Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., July 2 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due July 27, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will pay a contingent semiannual coupon at an annualized rate of 6.5% to 7% if the index closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that semiannual period. The exact contingent coupon rate will be set at pricing.

Beginning on July 24, 2019 and ending on Jan. 24, 2023, the notes will be automatically called at par of $1,000 plus the contingent coupon if the index closes at or above the initial level on any quarterly valuation date.

If the final index level is greater than or equal to the final barrier level, 75% of the initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324CWZ5) will price July 24 and settle July 27.

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