New Issue: Citigroup prices $2.14 million 11% single observation ELKS on Cliffs

By Susanna Moon

Chicago, March 3 - Citigroup Inc. priced $2.14 million of 11% annualized single observation Equity LinKed Securities due Sept. 2, 2014 linked to Cliffs Natural Resources Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par of $10 in cash unless Cliffs stock finishes below the 70% trigger level, in which case the payout will be a number of Cliffs shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Equity LinKed Securities
Underlying stock:	Cliffs Natural Resources Inc. (NYSE: CLF)
Amount:	$2,142,000
Maturity:	Sept. 2, 2014
Coupon:	11%, payable monthly
Price:	Par of $10
Payout at maturity:	If final price of Cliffs stock is less than or equal to downside threshold price, 49.11591 Cliffs shares or equivalent value in cash; otherwise, par
Initial level:	$20.36
Trigger level:	$14.252, 70% of initial level
Pricing date:	Feb. 27
Settlement date:	March 4
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	1730T0J42

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