Citigroup plans contingent coupon autocallables linked to two stocks

By Devika Patel

Knoxville, Tenn., June 13 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due July 2, 2018 linked to the worst performing of the common stocks of Apple Inc. and Amazon.com, Inc., 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 8% to 8.5% if the worst-performing stock closes at or above its barrier price, 75% 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 September 2017 and ending in March 2018.

If the final share price of the worst-performing stock is greater than or equal to its final barrier price, 75% of its initial share price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a fixed number of the worst performing underlying shares equal to the principal amount divided by the initial share price.

Citigroup Global Markets Inc. is the underwriter.

The notes (Cusip: 17324XCJ7) will price June 27 and settle three business days after pricing.

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