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Citigroup plans contingent coupon autocalls tied to four stocks
By Sarah Lizee
Olympia, Wash., Feb. 14 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Aug. 30, 2021 linked to the worse performing of the common stocks of Netflix, Inc., Apple Inc., Alphabet Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial level on any quarterly review date.
The payout at maturity will be par unless any stock finishes below its 60% barrier level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
The notes will price on Feb. 25.
The Cusip number is 17324XLM0.
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