New Issue: Citigroup prices $9.31 million 7.75% autocallable securities on Cummins

By Toni Weeks

San Luis Obispo, Calif., Aug. 13 - Citigroup Inc. priced $9.31 million of 7.75% autocallable equity-linked securities due Aug. 14, 2014 tied to Cummins Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The notes will be automatically redeemed at par plus interest if Cummins shares close at or above the initial share price on Nov. 11, Feb. 10, 2014 or May 9, 2014.

If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par in cash. Otherwise, the payout will be a number of Cummins 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.

Issuer:	Citigroup Inc.
Issue:	Autocallable equity-linked securities
Underlying stock:	Cummins Inc. (NYSE: CMI)
Amount:	$9.31 million
Maturity:	Aug. 14, 2014
Coupon:	7.75%, payable quarterly
Price:	Par
Payout at maturity:	If final share price is at least 80% of initial price, par; otherwise, 0.080632 Cummins shares or, at issuer's option, the cash equivalent
Call:	Automatically at par plus coupon if shares close at or above initial price on Nov. 11, Feb. 10, 2014 or May 9, 2014
Initial price:	$124.02
Trigger price:	$99.216, 80% of initial price
Pricing date:	Aug. 9
Settlement date:	Aug. 14
Agent:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	173095175

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