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Citigroup plans Index Lasers linked to Dow Jones Industrial Average
By Jennifer Chiou
New York, Jan. 25 - Citigroup Funding Inc. plans to price 0% Index Leading Stockmarket Return Securities due Feb. 26, 2013 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index remains above 70% of its initial level throughout the life of the notes, the payout at maturity will be par of $10 plus the greater of the index return and a fixed percentage that is expected to be 12% to 16% and will be set at pricing.
If the index falls to or below 70% of its initial level, the payout will be par plus the index return, which could be positive or negative.
The notes will price and settle in February.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Smith Barney LLC as co-agent.
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