Citigroup plans to price six-month 7%-9% ELKS linked to Ford stock

By Toni Weeks

San Diego, Feb. 8 - Citigroup Funding Inc. plans to price 7% to 9% annualized Equity LinKed Securities due Aug. 12, 2011 based on the performance of Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par of $10 unless Ford 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 Ford 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 notes (Cusip: 17316G362) are expected to price Feb. 9 and settle Feb. 14.

Citigroup Global Markets Inc. is the underwriter.

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