Citigroup plans buffered PLUS with 19.5%-22% cap linked to S&P 500

By Jennifer Chiou

New York, Oct. 25 - Citigroup Funding Inc. plans to price 0% buffered Performance Leveraged Upside Securities due May 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus double any index gain, up to a maximum payment of $11.50 to $12.00 per note.

Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

The notes (Cusip: 17317U527) will price on Nov. 22.

Citigroup Global Markets Inc. is the underwriter.

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