Citigroup plans to price six-month 7.5%-9.5% ELKS linked to Ford

By Toni Weeks

San Diego, Nov. 2 - Citigroup Funding Inc. plans to price 7.5% to 9.5% annualized Equity LinKed Securities due May 23, 2012 linked to Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par of $10 unless Ford shares fall to or below 80% of the initial price on the May 18, 2012 valuation day, in which case the payout will be a number of shares of Ford stock equal to $10 divided by the initial price or, at the investor's option, an equivalent cash amount.

The notes (Cusip: 17317U519) are expected to price Nov. 22 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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