Citigroup plans Stock Market Upturn notes linked to MSCI EAFE

By Laura Lutz

Des Moines, April 29 - Citigroup Funding Inc. plans to price 0% Stock Market Upturn notes due 2009 linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to mature in about 1¼ years.

If the final index level is greater than or equal to its initial level, the payment at maturity will be par plus triple any gain on the index, capped at a payout between 116% and 120% of par.

If the index declines, investors will participate fully in the loss.

The notes are expected to price in May and settle three business days later.

Citigroup said it will apply to list the notes on the American Stock Exchange under the symbol "SPU."

Citigroup Global Markets Inc. is the agent.

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