Citi plans 6.75%-8.75% single observation ELKS linked to Halliburton

By Angela McDaniels

Tacoma, Wash., April 9 - Citigroup Funding Inc. plans to price single observation Equity LinKed Securities due Nov. 21, 2012 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.

The seven-month notes will carry a coupon of 6.75% to 8.75% per year. The exact coupon will be set at pricing. Interest will be payable monthly.

The payout at maturity will be par of $10 in cash unless the final price of Halliburton shares is less than 80% of the initial price, in which case the payout will be a number of Halliburton shares equal to $10 divided by the initial share price or, at each holder's option, a cash amount equal to the value of those shares.

The notes (Cusip: 17318Q871) are expected to price April 27 and settle May 2.

Citigroup Global Markets Inc. is the underwriter. Distribution will be through Morgan Stanley Smith Barney LLC.

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