Citigroup plans 7.1%-9.1% airbag autocallable notes on Abercrombie

By Jennifer Chiou

New York, Dec. 5 - Citigroup Inc. plans to price 7.1% to 9.1% airbag autocallable yield optimization notes due Dec. 11, 2014 linked to Abercrombie & Fitch Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The notes will be automatically called if the stock closes at or above the initial price on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless Abercrombie stock finishes below the 80% conversion level, in which case the payout will be a number of Abercrombie shares equal to $1,000 divided by the conversion price.

The notes (Cusip: 17321F458) are expected to price on Dec. 6 and settle on Dec. 11.

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

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