Citigroup plans callable barrier range accrual notes on Russell 2000

By Jennifer Chiou

New York, Jan. 10 - Citigroup Funding Inc. plans to price callable barrier range accrual notes due Jan. 30, 2023 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

Interest will accrue at 8% for each day that the index closes at or above 70% of its initial level. Interest will be payable monthly.

The payout at maturity will be par unless the index finishes below the 70% barrier level, in which case investors will share fully in losses.

The notes will be callable at par on any interest payment date beginning in January 2015.

The notes (Cusip: 1730T0RC5) are expected to price on Jan. 25.

Citigroup Global Markets Inc. is the agent.

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