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Citigroup plans to sell jump securities tied to S&P GSCI Grains index
By Toni Weeks
San Diego, July 7 - Citigroup Funding Inc. plans to price 0% jump securities due Jan. 25, 2013 linked to the S&P GSCI Grains Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
If the final price is greater than the initial price, the payout at maturity will be par plus an upside payment of 25% to 30% that will be set at pricing. Investors will be exposed to any decline.
The securities (Cusip: 1730T0MW6) are expected to price July 20 and settle three business days later.
Citigroup Global Markets Inc. is the underwriter.
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