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

By Marisa Wong

Madison, Wis., Nov. 24 - Citigroup Funding Inc. plans to price Equity LinKed Securities due June 22, 2011 linked to the common stock of Dow Chemical Co., according to an FWP filing with the Securities and Exchange Commission.

The 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 Dow Chemical 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 Dow Chemical stock equal to $10 divided by the initial price or, at the investor's option, a cash amount equal to the value of those shares.

The securities (Cusip: 17316G586) are expected to price Dec. 27 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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