Citigroup plans callable range accrual notes linked to Libor, Russell

By Marisa Wong

Madison, Wis., Dec. 5 - Citigroup Funding Inc. plans to price callable Libor and Russell 2000 index-linked range accrual notes due Dec. 20, 2032, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at an annualized rate for each day that Libor is 6% or less and the index closes at or above 75% of the initial level. The rate will be 6% initially, stepping up to 7% on Dec. 20, 2017, to 8% on Dec. 20, 2022 and to 9% on Dec. 20, 2027.

The notes are callable at par plus accrued interest, if any, on any quarterly interest payment date beginning on Dec. 20, 2014.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the agent.

The notes are expected to price on Dec. 17 and settle three business days after that.

The Cusip number is 1730T0ZV4.

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