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Citigroup plans to price 2% minimum coupon notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 6 - Citigroup Funding Inc. plans to price 2% minimum coupon principal-protected notes due January 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable in January of each year. If the index return is more than 2% and the index does not close above its initial level by more than 14% to 18% - the exact percentage will be set at pricing - during the interest period, the coupon for that period will equal the index return. In all other cases, the coupon will be 2%.
The payout at maturity will be par of $10.
The notes will price in January.
Citigroup Global Markets Inc. is the underwriter.
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