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Citi plans buffered return optimization securities on Russell 2000
By Jennifer Chiou
New York, March 7 - Citigroup Funding Inc. plans to price 0% buffered return optimization securities due March 31, 2015 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any gain in the Russell 2000 index, up to a maximum payout of $11.60 to $12.00 per note. The exact cap will be set at pricing.
Investors will receive par if the shares fall by up to 10% and will be exposed to losses beyond 10%.
The notes (Cusip: 173095837) will price on March 25.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as dealer.
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