Citigroup plans autocallable contingent coupon notes linked to Best Buy

By Marisa Wong

Madison, Wis., April 1 – Citigroup Inc. plans to price autocallable contingent coupon equity-linked securities due April 14, 2016 linked to the common stock of Best Buy Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9% to 11% if Best Buy stock closes at or above the barrier level, 75% of the initial price, on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if Best Buy 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 at maturity will be par plus the contingent coupon.

Otherwise, investors will receive a number of Best Buy 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 underwriter.

The notes will price on April 9.

The Cusip number is 1730T06S3.

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