Citi plans 7.5%-8.5% contingent coupon autocallables on two stocks

By Susanna Moon

Chicago, Aug. 15 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity linked securities due Aug. 29, 2018 linked to the common stocks of Bank of America Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% to 8.5% if each stock closes at or above its 80% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial price on any quarterly valuation date from November 2017 through May 2018.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 80% barrier level, in which case investors will receive a number of shares of the worse performing stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Holdings Inc. is the underwriter.

The notes will price on Aug. 24.

The Cusip number is 17324CLD6.

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