Citi plans autocallable contingent coupon notes tied to two stocks

By Sarah Lizee

Olympia, Wash., May 8 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon notes due May 14, 2020 linked to the least performing of the common stocks of Bristol-Myers Squibb Co. and Alaska Air Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.95% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.

Starting in August, the notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.

The payout at maturity will be par plus the coupon unless either stock finishes below its 70% trigger level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 9.

The Cusip number is 17324XNV8.

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