Citigroup plans ELKS linked to Texas Instruments

By E. Janene Geiss

Philadelphia, Aug. 16 ? Citigroup Funding Inc. plans to price an issue of one-year Equity-LinKed Securities (ELKS) linked to Texas Instruments Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The securities will pay interest of between 9% and 10% per year with the exact coupon determined at pricing. Pricing is expected in September.

If the final price of Texas Instruments stock is at least 77.5% of its initial price, the payout will be par of $10 in cash. The exact downside threshold will be determined at pricing.

If the stock price drops by more than 22.5%, investors will receive a number of Texas Instruments shares equal to par divided by the initial stock price.

Citigroup Global Markets Inc. is the underwriter.

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