Citigroup plans autocallable equity-linked securities on Blackstone

By Toni Weeks

San Luis Obispo, Calif., Dec. 12 - Citigroup Inc. plans to price autocallable equity-linked securities due Dec. 23, 2014 tied to common units representing limited partnership interests of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will carry a coupon of at least 2.6625% per quarter, with the exact interest rate to be set at pricing. Interest will be payable quarterly.

The notes will be automatically redeemed at par of $10 plus interest if Blackstone shares close at or above the initial share price on March 20, June 20, 2014 or Sept. 20, 2014.

If the notes are not called and the final share price is at least 75% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of Blackstone shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.

The notes (Cusip: 17321F391) are expected to price Dec. 20 and settle five business days later.

Citigroup Global Markets Inc. is the agent.

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