Citigroup to price 10% to 13% ELKS linked to Comcast stock

By E. Janene Geiss

Philadelphia, May 27 - Citigroup Funding Inc. plans to price one-year Equity LinKed Securities linked to the common stock of Comcast Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will carry a coupon of 10% to 13%, with the exact rate to be set at pricing. Interest will be paid semiannually.

If Comcast stock declines by 30% or more during the life of the notes, the payout at maturity will be a number of Comcast shares equal to par of $10 divided by the initial share price or, at the holder's option, the value of those shares in cash. Otherwise, the payout will be par.

The issuer has applied to list the notes on the NYSE Arca under the symbol "ELE."

The ELKS will price in June and settle three days later.

Citigroup Global Markets Inc. is the underwriter.

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