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Citigroup plans Index Lasers linked to Dow Jones Industrial Average
By Angela McDaniels
Tacoma, Wash., July 28 - Citigroup Funding Inc. plans to price 0% Index Leading Stockmarket Return Securities due August 2012 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
If the index never falls to or below 50% to 54% of its initial level - the exact trigger will be set at pricing - during the life of the notes, the payout at maturity will be par of $10 plus the greater of the index return and zero. Otherwise, the payout will be par plus the index return with exposure to any losses.
The notes (Cusip: 17316G305) are expected to price July 30 and settle Aug. 4.
Citigroup Global Markets Inc. is the underwriter.
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