Citigroup plans trigger PLUS due 2015 with 50%-55% cap linked to Apple

By Susanna Moon

Chicago, March 14 - Citigroup Funding Inc. plans to price 0% trigger Performance Leveraged Upside Securities due April 1, 2015 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in Apple stock, up to a maximum return of 50% to 55%. The exact cap will be set at pricing.

Investors will receive par if Apple stock falls by up to 20% and will be fully exposed to any losses if the stock finishes below the 80% trigger level.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on March 27 and settle three days later in April.

The Cusip number is 173095761.

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