New Issue: Citigroup prices $100 million 8% buy-write notes on Wells Fargo

By Jennifer Chiou

New York, March 1 - Citigroup Funding Inc. priced $100 million of 8% synthetic buy-write notes due March 7, 2012 linked to the common stock of Wells Fargo & Co., according to a 424B2 with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will equal par of $32.65 plus the share price return, payable in Wells Fargo shares or cash at the holder's option, subject to a maximum return of 15.55%. Investors will share in any losses, with the option to receive the payout, if any, in shares or cash.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Funding Inc.
Issue:	Synthetic buy-write notes
Underlying stock:	Wells Fargo & Co. (Symbol: WFC)
Amount:	$100,006,950
Maturity:	March 7, 2012
Coupon:	8% per year, payable quarterly
Price:	Par of $32.65
Payout at maturity:	Par plus share return, capped at 15.55%; exposure to losses with option, in either case, to receive shares or cash
Initial price:	$32.65
Pricing date:	Feb. 25
Settlement date:	March 2
Underwriter:	Citigroup Global Markets Inc.
Fees:	None
Cusip:	17316G255

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