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Citigroup to price buffered jump securities linked to S&P 500 index
By Jennifer Chiou
New York, Aug. 24 - Citigroup Funding Inc. plans to price 0% buffered jump securities due March 27, 2015 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the final index value is greater than the initial index value, the payout at maturity will be par plus the greater of the index performance and the upside payment of 30% to 35%.
Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% drop beyond 10%.
The notes (Cusip: 17317U659) are expected to price on Sept. 26 and settle three business days later.
Citigroup Global Markets Inc. is the underwriter.
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