Citigroup plans to price 10%-12% ELKS linked to Las Vegas Sands

By Angela McDaniels

Tacoma, Wash., Jan. 18 - Citigroup Funding Inc. plans to price single observation Equity LinKed Securities due July 25, 2012 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will carry a coupon of 10% to 12% 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 the final share price is less than or equal to the downside threshold closing price, in which case the payout will be a number of Las Vegas Sands 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 downside threshold closing price will be 80% of the initial share price.

The notes (Cusip: 17317U287) are expected to price Jan. 25 and settle three business days later.

Citigroup Global Markets Inc. is the agent.

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