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Citigroup plans dual directional trigger PLUS linked to Russell 2000
By Susanna Moon
Chicago, May 2 - Citigroup Funding Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due June 4, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 1.5 times the return, up to a maximum return of 33% to 37%. The exact cap will be set at pricing.
If the index falls but finishes above the 80% trigger level, the payout will be par plus the absolute value of the fund return.
Otherwise, investors will be fully exposed to any losses if the index falls by more than 20%.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Smith Barney LLC as the dealer.
The notes will price on May 30 and settle three days later.
The Cusip number is 17318Q822.
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