New Issue: Citigroup prices $20 million notes exchangeable for 3M at 1%, up 7%

New York, July 20 - Citigroup Funding, Inc. priced $20 million 1% seven-year notes exchangeable for the common stock of 3M Co. with a 7% initial exchange premium, according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Citigroup Funding, Inc.
Issue:	Exchangeable medium-term series A notes
Underlying stock:	3M Co.
Amount:	$20 million
Maturity:	July 20, 2012
Coupon:	1%
Price:	Par
Exchange premium:	7%
Exchange ratio:	12.442 (at any time after Aug. 20)
Call:	May 21, 2008 onwards at greater of 12.442 shares of 3M or par in cash
Underwriter:	Citigroup Global Markets Inc.
Pricing date:	July 19
Settlement date:	July 20

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