Citigroup plans 10%-12% single observation ELKS linked to Netflix

By Marisa Wong

Madison, Wis., Nov. 5 - Citigroup Inc. plans to price 10% to 12% single observation Equity Linked Securities due May 28, 2014 linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

If the final share price is at least 70% of the initial share price, the payout at maturity will be par of $1,000. If the final share price is less than 70% of the initial share price, the payout will be a number of Netflix shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Nov. 22 and settle three business days after that.

The Cusip number is 1730T0B81.

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