Citigroup plans trigger autocallable optimization notes tied to Apple

By Toni Weeks

San Luis Obispo, Calif., July 24 – Citigroup Inc. plans to price 0% trigger autocallable optimization securities due July 31, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 9% per year if the shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and the shares finish at or above the trigger level, the payout at maturity will be par. The trigger level is expected to be 65% to 70% of the initial share price and will be set at pricing. Otherwise, investors will be fully exposed to the decline in the share price.

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

The notes (Cusip: 17322H420) will price July 29 and settle July 31.

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