Citigroup plans 10%-12% single observation ELKS linked to Netflix

By Susanna Moon

Chicago, Jan. 8 – Citigroup Inc. plans to price 10% to 12% single observation Equity Linked Securities due Jan. 23, 2017 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly, with the exact rate to be set at pricing.

The payout at maturity will be par unless the stock finishes below the 70% barrier level, in which case the payout will be a number of Netflix 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 Jan. 18.

The Cusip number is 17298C5Y0.

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