By Jennifer Chiou
New York, Nov. 8 - Citigroup Funding Inc. priced $19.2 million of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 2, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 32%.
If the final index level is less than or equal to the initial index level but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 80% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Funding Inc.
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Issue: | Dual directional trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $19.2 million
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Maturity: | Nov. 2, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than initial index level, par plus 150% of index return, subject to maximum return of 32%; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, full exposure to decline from initial index level
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Initial index level: | 1,412.16
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Trigger level: | 1,129.728, 80% of initial level
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17318Q533
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