Citigroup eyes contingent coupon autocallables linked to three stocks

By Devika Patel

Knoxville, Tenn., June 23 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due July 2, 2019 linked to the worst performing of the common stocks of Netflix, Inc., Marathon Oil Corp. and Goodyear Tire & Rubber Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each month, the notes will pay a contingent coupon at an annualized rate of at least 10% if the worst-performing stock closes at or above its coupon barrier price, 50% of its initial share price, on the valuation date for that month. The exact coupon will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the worst-performing stock closes at or above its initial share price on any quarterly valuation date beginning in September 2017 and ending in March 2019.

If the final share price of the worst-performing stock is greater than or equal to its final barrier price, 50% of its initial share price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the worst-performing stock from its initial level.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17324CKD7) will price June 27 and settle three business days after pricing.

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