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Citigroup plans to price non-callable variable-rate notes tied to CPI
By Toni Weeks
San Diego, March 2 - Citigroup Funding Inc. plans to price non-callable variable-rate notes due March 11, 2016 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly and will be equal to the year-over-year change in the Consumer Price Index plus 70 basis points, subject to a floor of 2% and a cap of 6%.
The payout at maturity will be par.
The underwriter is Citigroup Global Markets Inc.
The notes (Cusip: 1730T0LV9) are expected to settle in March.
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