Citi to price contingent coupon autocallables linked to two stocks

By Marisa Wong

Morgantown, W.Va., Sept. 12 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 18, 2017 linked to the worse performing of the common stocks of Walt Disney Co. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon if the worse-performing stock closes at or above its barrier price, 80% of its initial share price, on the valuation date for that quarter. The contingent coupon rate is expected to be 15.5% to 17.5% and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the worse-performing stock closes at or above its initial share price on any potential quarterly redemption date.

If the final share price of the worse-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the worse-performing stock’s decline from its initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Sept. 13.

The Cusip number is 17324CAT3.

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