Citigroup to price 10.25%-11.25% ELKS linked to Barrick Gold

By Angela McDaniels

Seattle, Aug. 2 - Citigroup Funding Inc. plans to price Equity LinKed Securities (ELKS) linked to the common stock of Barrick Gold Corp., according to an FWP filing with the Securities and Exchange Commission.

The six-month securities will pay 5.13% to 5.63% for an annualized rate of 10.25% to 11.25%. The exact coupon will be determined at pricing, which will occur in August.

The payout at maturity will be par of $10 unless Barrick Gold stock falls by 20% or more during the life of the securities, in which case investors will receive a number of Barrick Gold shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.

Citigroup Global Markets Inc. will be the underwriter.

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