Citigroup to price 10.5%-11.5% ELKS linked to Oracle

By Jennifer Chiou

New York, Nov. 26 - Citigroup Funding Inc. plans to price one-year Equity LinKed Securities (ELKS) linked to the common stock of Oracle Corp., according to an FWP filing with the Securities and Exchange Commission.

The securities will carry a coupon of 10.5% to 11.5%, payable semiannually. The exact coupon will be determined at pricing, which will occur in December.

The payout at maturity will be par of $10 unless Oracle stock falls by 25% or more during the life of the securities, in which case investors will receive a number of Oracle shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.

The company said it will apply to list the securities on the American Stock Exchange under the symbol "EJS."

Citigroup Global Markets Inc. will be the underwriter.

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