Citigroup plans 10.5%-12.5% autocallable securities on Hewlett-Packard

By Marisa Wong

Madison, Wis., July 16 - Citigroup Inc. plans to price 10.5% to 12.5% annualized autocallable equity-linked securities due Aug. 5, 2014 tied to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The notes will be automatically redeemed at par plus interest if Hewlett-Packard shares close at or above the initial share price on Oct. 31, Jan. 31 or April 30, 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 in cash. Otherwise, the payout will be a number of Hewlett-Packard shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.

Citigroup Global Markets Inc. is the agent.

The notes are expected to price July 31 and settle three business days after that.

The Cusip number is 173095241.

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