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Citigroup plans contingent return optimization securities on Russell
By Marisa Wong
Madison, Wis., Feb. 1 - Citigroup Funding Inc. plans to price 0% contingent return optimization securities due Feb. 28, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 60% of the initial level, the payout at maturity will be par of $10 plus the greater of 10% and the index return. The payout will be subject to a maximum return of 25% to 35% that will be set at pricing.
If the final index level is less than the trigger level, investors will be fully exposed to the decline.
The notes (Cusip: 17317U196) are expected to price Feb. 24 and settle Feb. 29.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
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