Citi eyes contingent coupon autocalls tied to VanEck Vectors funds

By Sarah Lizee

Olympia, Wash., Feb. 6 – Citigroup Global Markets Holdings Inc. plans to sell autocallable contingent coupon equity-linked securities due March 4, 2021 linked to the least performing of the VanEck Vectors Junior Gold Miners ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 8% if each asset closes at or above the 80% threshold on the observation date for that quarter.

The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless any asset finishes below its 80% threshold level, in which case investors will receive a number of shares of the lesser performing asset equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the agent.

The notes will price on Feb. 27.

The Cusip number is 17324XHB9.

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