Citigroup plans to price six-month 8%-10% ELKS linked to Textron

By Angela McDaniels

Tacoma, Wash., Dec. 29 - Citigroup Funding Inc. plans to price Equity LinKed Securities due July 27, 2011 linked to the common stock of Textron Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 8% to 10%. The exact coupon will be set at pricing. Interest will be payable monthly.

The payout at maturity will be par of $10 unless Textron 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 Textron stock equal to $10 divided by the initial price or, at each holder's option, a cash amount equal to the value of those shares.

The securities (Cusip 17316G537) are expected to price Jan. 25 and settle Jan. 28.

Citigroup Global Markets Inc. is the underwriter.

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