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Citigroup to price buffer notes linked to S&P 500
By Susanna Moon
Chicago, Dec. 2 - Citigroup Funding Inc. plans to price 0% buffer notes due 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus at least triple any gain, up to a maximum return of 35% to 40%. The exact participation rate and cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to losses beyond 10%.
Pricing and settlement dates were unspecified in the filing.
Citigroup applied to list the notes on NYSE Arca under the symbol "BEJ."
Citigroup Global Markets Inc. will be the underwriter.
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