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Citigroup plans callable range accrual notes on S&P 500, Libor
By Jennifer Chiou
New York, April 8 - Citigroup Funding Inc. plans to price callable range accrual notes linked to the S&P 500 index and Libor-BBA, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8% per year for each day that the S&P 500 closes at or above 950 and Libor-BBA is 6.5% or less. Interest, if any, is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning on April 29, 2012.
The securities (Cusip: 1730T0MD8) will price and settle in April.
Citigroup Global Markets Inc. is the underwriter.
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