Citigroup to sell contingent income autocallables on MetLife

By Sarah Lizee

Olympia, Wash., May 21 – Citigroup Global Markets Holdings Inc. plans to price contingent income autocallable securities due May 27, 2022 linked to MetLife, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.75% if the stock closes at or above its 75% downside threshold level on the observation date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial level on any quarterly observation date beginning in August 2019 and ending in February 2022.

The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Citigroup Global Markets Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 17327P401) will price on May 24 and settle three business days after pricing.

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