Citigroup to price range accrual notes linked to Libor, S&P 500 index

By Angela McDaniels

Tacoma, Wash., Feb. 10 - Citigroup Funding Inc. plans to price callable range accrual notes due March 2027 linked to Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 7% per year multiplied by the proportion of days on which Libor is 6% or less and the index closes at or above the index reference level, which is expected to be 75% to 80% of the initial level. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning March 2014, the notes will be callable at par on any interest payment date.

The notes (Cusip: 1730T0WE5) are expected to price March 15 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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