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Citigroup plans upturn notes linked to Market Vectors Gold Miners ETF
By Jennifer Chiou
New York, Oct. 28 - Citigroup Funding Inc. plans to price 0% upturn notes linked to the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will have a tenor of about 1½ years.
The payout at maturity will be par of $10 plus three times any index fund gain, capped at a maximum return that is expected to be 44% to 48% and will be set at pricing. Investors will be fully exposed to any index fund decline.
The notes will price in November.
Citigroup Global Markets Inc. will be the underwriter.
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