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Citigroup plans to price two-year Lasers with 35% cap tied to S&P 500
By Marisa Wong
Madison, Wis., Sept. 6 - Citigroup Funding Inc. plans to price 0% Index Leading Stockmarket Return Securities linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The securities will have a maturity of about two years.
If the index never closes below 70% of its initial level during the life of the securities, the payout at maturity will be par plus the greater of the index return and a fixed percentage of 10% to 15%. Otherwise, the payout will be par plus the index return with exposure to losses.
In either case, the return will be capped at 35%.
The exact terms will be set at pricing.
The notes (Cusip: 1730T0NW5) are expected to price Sept. 9 and settle three business days later.
Citigroup Global Markets Inc. will be the underwriter.
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