New Issue: Citigroup prices $8.44 million 9.66% airbag autocallables tied to Avon

By Toni Weeks

San Luis Obispo, Calif., Jan. 28 - Citigroup Inc. priced $8.44 million of 9.66% airbag autocallable yield optimization notes due Jan. 30, 2015 linked to Avon Products, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

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 Avon stock finishes below the 85% conversion level, in which case the payout will be a number of Avon shares equal to $1,000 divided by the conversion price.

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

Issuer:	Citigroup Inc.
Issue:	Airbag autocallable yield optimization notes
Underlying stock:	Avon Products, Inc. (Symbol: AVP)
Amount:	$8,435,000
Maturity:	Jan. 30, 2015
Coupon:	9.66%, payable monthly
Price:	Par
Payout at maturity:	If final price is less than conversion price, 75.8725 Avon shares per $1,000 note; otherwise, par
Call:	At par if Avon shares close at or above initial share price on any quarterly observation date
Initial price:	$15.50
Conversion price:	$13.18, 85% of initial price
Pricing date:	Jan. 24
Settlement date:	Jan. 30
Underwriters:	UBS Financial Services Inc. and Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	17321F292

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