Citi plans autocallable contingent coupon notes tied to three stocks

By Wendy Van Sickle

Columbus, Ohio, Oct. 18 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Oct. 31, 2018 linked to the common stocks of salesforce.com, inc., ConocoPhillips and Ford Motor 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 9.5% to 10.5% if each stock closes at or above the barrier price, 50% of the initial price, on the valuation date for that month. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par of $1,000 plus the contingent coupon if both stocks close at or above their initial share prices on any valuation date other than the final one.

If the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of shares of the lesser-performing stock 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 are expected to price on Oct. 26.

The Cusip number is 17324CBT2.

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