Citi plans 14.5% contingent coupon autocalls tied to three stocks

By Susanna Moon

Chicago, June 28 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Jan. 22, 2021 linked to the common stocks of Nvidia Corp., Goldman Sachs Group, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 14.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called if each stock closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below its 70% downside threshold, in which case investors will receive a number of shares of the worse performing stock equal to par of $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 16.

The Cusip number is 17324XEV8.

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