Citigroup plans 15-year range accrual notes linked to Libor, S&P 500

By Angela McDaniels

Tacoma, Wash., Nov. 30 - Citigroup Funding Inc. plans to price callable range accrual notes due Dec. 23, 2025 linked to Libor-BBA and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 8% per year multiplied by the proportion of days on which Libor-BBA is 7% or less and the index closes at or above 875. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning Dec. 23, 2011, the notes will be callable at par on any interest payment date.

The notes (Cusip 1730T0LG2) are expected to price Dec. 20.

Citigroup Global Markets Inc. is the underwriter.

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