Citigroup plans contingent coupon autocallable notes on Halliburton

By Tali Rackner

Norfolk, Va., Nov. 8 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Nov. 21, 2017 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 8.5% to 9.5% if Halliburton stock closes at or above the barrier price, 77.5% of the initial price, on the valuation date for that quarter. The exact contingent coupon rate will be set at pricing.

Beginning in February 2017, the notes will be automatically called at par of $1,000 plus the contingent coupon if Halliburton shares close at or above the initial share price on any valuation date until August 2017.

If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors receive a number of Halliburton shares equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Nov. 16.

The Cusip number is 17324XAB6.

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