Citigroup plans contingent coupon autocallables linked to two stocks

By Devika Patel

Knoxville, Tenn., Dec. 22 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Jan. 5, 2021 linked to the worst performing of 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 be guaranteed by Citigroup Inc.

Each quarter, the notes will pay a contingent coupon at an annualized rate of between 8.5% and 9% if the worst-performing stock closes at or above its coupon barrier price, 70% of its initial share price, on the valuation date for that quarter. 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 June 2018 and ending in September 2020.

If the final share price of the worst-performing stock is greater than or equal to its final barrier price, 70% 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: 17324CQ41) will price Dec. 26 and settle three business days after pricing.

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