Citigroup to price 8%-9% ELKS linked to Exxon Mobil

By Jennifer Chiou

New York, Aug. 15 - Citigroup Funding Inc. plans to price Equity LinKed Securities linked to the common stock of Exxon Mobil Corp., according to an FWP filing with the Securities and Exchange Commission.

The securities will mature in about one year. They are expected to pay between 8% and 9% per year. The exact coupon will be determined at pricing.

If the trading price of Exxon Mobil stock stays above the trigger price - 80% of the initial share price - during the life of the notes, the payout at maturity will be par of $10.

Otherwise, the payout will be a number of Exxon Mobil shares equal to par divided by the initial share price.

The issuer has applied to list the notes on the American Stock Exchange under the symbol "EKG."

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

Citigroup Global Markets Inc. will be the agent.

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