Citigroup plans range accrual notes linked to Russell 2000, Libor

By Susanna Moon

Chicago, July 1 - Citigroup Funding Inc. plans to price callable range accrual notes due July 27, 2026 linked to the Russell 2000 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 8% for the first year. After that, it will accrue at 8% per year on each day that the Russell 2000 closes at or above 550 and Libor is 6.5% or less. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning April 29, 2012.

Citigroup Global Markets Inc. is the underwriter.

The Cusip number is 1730T0MV8.

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