Citigroup to price 6%-7.2% airbag autocallables linked to Tata Motors

By Marisa Wong

Madison, Wis., May 8 - Citigroup Inc. plans to price 6% to 7.2% airbag autocallable yield optimization notes due May 14, 2015 linked to the American Depositary Shares of Tata Motors Ltd., 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 notes will be called automatically at par if Tata Motors shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Tata Motors shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.

The notes are expected to price May 9 and settle May 14.

The Cusip number is 17322H768.

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