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Citgroup plans six-month 11.5% to 15.5% ELKS linked to Las Vegas Sands
By Toni Weeks
San Diego, June 29 - Citigroup Funding Inc. plans to price 11.5% to 15.5% annualized single observation Equity LinKed Securities due Feb. 21, 2013 linked to the common stock of Las Vegas Sands Corp., 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 payout at maturity will be par of $10 unless Las Vegas Sands shares fall below 80% of the initial price on the Feb. 15, 2013 valuation date, in which case the payout will be a number of shares of Las Vegas Sands stock equal to $10 divided by the initial price or a cash amount equal to the value of those shares.
The notes (Cusip: 17318Q715) are expected to price July 30 and settle three business days later.
Citigroup Global Markets Inc. will be the underwriter.
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