Citigroup to price 5%-7% airbag autocallables linked to Tata Motors

By Angela McDaniels

Tacoma, Wash., Nov. 13 - Citigroup Inc. plans to price 5% to 7% airbag autocallable yield optimization notes due Nov. 20, 2014 linked to American Depositary Shares representing the A ordinary shares of Tata Motors Ltd., 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.

The notes will be called automatically at par if Tata Motors ADSs close at or above the initial ADS price on any quarterly observation date.

The payout at maturity will be par unless the final ADS price is less than the conversion price, in which case the payout will be a number of Tata Motors ADSs equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial ADS price.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.

The notes are expected to price Nov. 15 and settle Nov. 20.

The Cusip number is 17321F581.

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