Citigroup to price notes with variable coupon linked to 10 stocks

By Toni Weeks

San Luis Obispo, Calif., Jan. 13 - Citigroup Inc. plans to price variable-coupon notes due Jan. 30, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket includes Amgen Inc., Citrix Systems, Inc., eBay Inc., First Solar, Inc., Ford Motor Co., Netflix, Inc., Reynolds American Inc., salesforce.com, inc., Schlumberger NV and Stratasys Ltd.

The notes will pay a coupon each year equal to the average of the basket stocks' performances, subject to a minimum rate of 0%.

If a basket stock's return is zero or positive, its performance will be 10.05% to 11.05%, with the exact rate to be set at pricing. If a basket stock's return is negative, its performance will be the greater of its return and negative 30%.

The payout at maturity will be par.

The notes will price Jan. 23 and settle five business days later.

The Cusip number is 1730T0G52.

Citigroup Global Markets Inc. is the underwriter.

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