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Citigroup to price dual directional trigger PLUS linked to S&P 500
By Susanna Moon
Chicago, Nov. 30 - Citigroup Funding Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due June 22, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial index level, the payout at maturity will be par of $10 plus 150% of any index gain, up to a maximum return of 21.5% to 24.5%.
If the index falls but finishes at or above the 80% trigger level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to losses.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Dec. 17 and settle three days later.
The Cusip number is 17318Q368.
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