Citi plans autocallable contingent coupon notes on Caterpillar, Deere

By Sarah Lizee

Olympia, Wash., Oct. 10 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Nov. 8, 2021 linked to the worse performing of the common stocks of Caterpillar Inc. and Deere & 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 9.1% if both stocks close at or above the coupon barrier price, 65% of the initial price, on the valuation date for that quarter.

Beginning in January 2019 and ending in August 2021, the notes will be automatically called at par of $1,000 plus the contingent coupon if both stocks shares close at or above their initial prices on a quarterly valuation date.

If the final price of the worse performing stock is greater than or equal to the final barrier price, 65% of the initial price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the worse performing stock from its initial price.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17326YG42) are expected to price on Oct. 26 and settle on Oct. 31.

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