Citigroup plans 7%-8% single observation ELKS due 2016 linked to Apple

By Susanna Moon

Chicago, Sept. 15 – Citigroup Inc. plans to price 7% to 8% single observation Equity Linked Securities due Sept. 28, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will receive a number of Apple 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.

The notes will price on Sept. 23.

The Cusip number is 17298C2L1.

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