Citigroup plans autocallable contingent coupon notes on Netflix

By Marisa Wong

Madison, Wis., April 28 - Citigroup Inc. plans to price autocallable contingent coupon equity-linked securities due June 3, 2015 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of 2.5% to 3% if Netflix stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if Netflix shares close at or above the initial share price on any quarterly valuation date.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 70% barrier level, in which case investors will receive a number of Netflix shares 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 underwriter.

The notes are expected to price on May 29.

The Cusip number is 1730T0P94.

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