Citigroup plans contingent coupon autocallables tied to United Rentals

By Susanna Moon

Chicago, Oct. 27 – Citigroup Inc. plans to price autocallable contingent coupon equity-linked securities due Nov. 19, 2015 linked to United Rentals, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% to 11% if United Rentals shares close at or above the barrier price, 75% of the initial share price, on the observation date for that quarter.

The notes will be called at par if the shares close at or above the initial share price on any of the first three quarterly valuation dates.

If the stock finishes at or above the 75% barrier level, the payout will be par plus the contingent coupon.

Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the agent.

The notes will price on Nov. 14.

The Cusip number is 1730T02T5.

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