Citi plans 15-year range accrual notes linked to Russell 2000, Libor

By Susanna Moon

Chicago, Aug. 9 - Citigroup Funding Inc. plans to price callable range accrual notes due Aug. 26, 2026 linked to the Russell 2000 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 8% for the first year. After that, it will accrue at 8% for each day that Libor is 6.5% or less and the Russell 2000 closes at or above the trigger, which will be 72% of the initial level. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Aug. 26, 2012.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 23.

The Cusip number is 1730T0NJ4.

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