Citigroup plans to price six-month 6%-8% ELKS tied to Ford Motor stock

By Marisa Wong

Madison, Wis., June 10 - Citigroup Funding Inc. plans to price 6% to 8% annualized Equity LinKed Securities due Dec. 21, 2011 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest 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: 17317U782) are expected to price June 24 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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