Citigroup plans to price 11%-15% ELKS linked to Goldman Sachs shares

By E. Janene Geiss

Philadelphia, June 2 - Citigroup Funding Inc. plans to price six-month 11% to 15% Equity LinKed Securities due in 2010 linked to the common stock of Goldman Sachs Group, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be paid at maturity.

If the price of Goldman Sachs stock declines by 20% or more during the life of the notes, the payout at maturity will be a number of Goldman Sachs shares equal to par divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.

The notes are expected to price in June and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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