Citigroup plans six-month 7%-9% ELKS linked to Schlumberger shares

By Susanna Moon

Chicago, April 26 - Citigroup Funding Inc. plans to price 7% to 9% annualized Equity LinKed Securities due Nov. 23, 2011 linked to Schlumberger NV shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

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

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 24 and settle three days later.

The Cusip is 17316G123.

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