Citigroup plans to price one-year PLUS linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., Nov. 22 - Citigroup Funding Inc. plans to price 0% Performance Leveraged Upside Securities due December 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 14% to 16% that will be set at pricing.

If the index return is negative, investors will share fully in the decline.

The notes (Cusip: 17317U394) are expected to price Nov. 23 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter. Distribution will be through Morgan Stanley Smith Barney LLC.

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