Citigroup to price buffered digital securities linked to S&P 500

By Toni Weeks

San Diego, June 5 - Citigroup Funding Inc. plans to price 0% buffered digital securities due July 2, 2014 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 or equal to the initial level, the payout at maturity will be par plus the 12% to 16% fixed return. The exact fixed return will be set at pricing.

Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% decline in the index beyond the 20% buffer.

The notes (Cusip: 1730T0XS3) are expected to price June 27 and settle two business days later.

Citigroup Global Markets Inc. is the underwriter.

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