New Issue: Citigroup prices $2.24 million autocallable equity-linked securities on Valero Energy

By Toni Weeks

San Luis Obispo, Calif., Dec. 3 - Citigroup Inc. priced $2.24 million of 8% autocallable equity-linked securities due Dec. 4, 2014 tied to Valero Energy Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be automatically redeemed at par of $10 plus interest if Valero shares close at or above the initial share price on Feb. 28, May 29 or Aug. 29, 2014.

If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of Valero shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Inc.
Issue:	Autocallable equity-linked securities
Underlying stock:	Valero Energy Corp. (NYSE: VLO)
Amount:	$2,243,600
Maturity:	Dec. 4, 2014
Coupon:	8%, payable quarterly
Price:	Par
Payout at maturity:	Par if final share price is at least 80% of initial price; otherwise, 0.21872 Valero shares or, at issuer's option, equivalent amount in cash
Call:	At par plus interest if Valero shares close at or above initial share price on Feb. 28, May 29 or Aug. 29, 2014
Initial price:	$45.72
Downside threshold:	$36.576, 80% of initial price
Pricing date:	Nov. 29
Settlement date:	Dec. 4
Agent:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	17321F516

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