New Issue: Citigroup prices $7.38 million contingent upside participation notes linked to S&P 500

By Susanna Moon

Chicago, Aug. 25 - Citigroup Funding Inc. priced $7.38 million of zero-coupon contingent upside participation principal-protected notes due Aug. 26, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index stays at or below about 130% of its initial index level during the life of the notes, the payout at maturity will be par plus any gain.

Otherwise, the payout will be par plus a fixed return of 6%.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Funding Inc.
Issue:	Contingent upside participation principal-protected notes
Underlying index:	S&P 500
Amount:	$7,381,000
Maturity:	Aug. 26, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	If index remains at or below the trigger level, par plus any index gain; otherwise, par plus fixed return of 6%
Initial index level:	1,277.72
Trigger level:	1,661.03, or 130% of initial level
Pricing date:	Aug. 21
Settlement date:	Aug. 26
Underwriter:	Citigroup Global Markets Inc.
Fees:	2.25%

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