Citigroup to price six-month 8%-10% ELKS linked to General Electric

By Jennifer Chiou

New York, Sept. 27 - Citigroup Funding Inc. plans to price Equity LinKed Securities due April 25, 2012 linked to the common stock of General Electric Co., according to an FWP with the Securities and Exchange Commission.

The six-month notes will carry a coupon of 8% to 10% per year. The exact interest rate will be set at pricing. Interest will be payable monthly.

The payout at maturity will be par of $10 unless General Electric stock closes at or below the downside threshold price - 80% of the initial stock price - during the life of the notes, in which case the payout will be a number of shares of General Electric stock equal to $10 divided by the initial price or, at each investor's option, a cash amount equal to the value of those shares.

The notes (Cusip: 17317U592) are expected to price on Oct. 25.

Citigroup Global Markets Inc. is the underwriter.

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