Citigroup plans to sell 9%-12% ELKS due 2010 linked to Wells Fargo

By Susanna Moon

Chicago, Sept. 28 - Citigroup Funding Inc. plans to price 9% to 12% Equity LinKed Securities due 2010 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable semiannually.

The payout at maturity will be par of $10.00 unless Wells Fargo stock falls below the trigger price - 65% of the initial price - during the life of the notes, in which case investors will receive a number of Wells Fargo shares equal to $10.00 divided by the initial price or, at the holder's option, the cash equivalent.

The notes will price and settle in October.

Citigroup Global Markets, Inc. is the underwriter.

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