Citigroup plans to price 9% autocallable equity-linked notes on Baidu

By Sarah Lizee

Olympia, Wash., July 1 – Citigroup Global Markets Holdings Inc. plans to price autocallable equity-linked securities due July 8, 2020 tied to the common stock of Baidu, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The notes will carry a coupon at a rate of 9% per year, payable quarterly.

The notes will be automatically redeemed at par plus the coupon if the shares close at or above the initial price on any quarterly observation date.

The payout at maturity will be par unless the stock closes below the 70% knock-in level on any day during the life of the notes and finishes below the initial price, in which case the payout will be a number of shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.

Citigroup Global Markets Inc. is the agent.

The notes will price on July 2.

The Cusip number is 17327TVK9.

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