Citigroup to sell six-month 10%-12% ELKS linked to American Express

By Susanna Moon

Chicago, Oct. 27 - Citigroup Funding Inc. plans to price six-month Equity LinKed Securities linked to the common stock of American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 10% to 12%, payable semiannually, with the exact amount to be set at pricing.

The payout at maturity will be par of $10.00 unless American Express stock falls below the trigger price - 75% of the initial price - during the life of the notes, in which case investors will receive a number of American Express shares equal to $10.00 divided by the initial price or, at the holder's option, the value of those shares in cash.

Citigroup Global Markets, Inc. is the underwriter.

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