Citigroup to price 11.5% single observation ELKS tied to Baidu ADSs

By Marisa Wong

Madison, Wis., Jan. 6 - Citigroup Funding Inc. plans to price 11.5% annualized Equity LinKed Securities due Aug. 11, 2012 linked to the American Depositary Shares of Baidu, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par of $10 in cash unless the Baidu ADS price falls to or below the downside threshold price - 60% of the initial ADS price - on the final valuation date, in which case the payout will be a number Baidu ADSs equal to $10 divided by the initial ADS price.

Citigroup Global Markets Inc. is the agent.

The notes (Cusip: 17317U337) will price and settle in January.

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