New Issue: Citigroup prices $20 million notes exchangeable for Johnson & Johnson at 1%, up 16.384%

New York, June 29 - Citigroup Funding, Inc. priced $20 million 1% notes exchangeable for the common stock of Johnson & Johnson, Inc. with a 16.384% initial exchange premium, according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Citigroup Funding, Inc.
Issue:	Exchangeable medium-term series A notes
Underlying stock:	Johnson & Johnson, Inc.
Amount:	$20 million
Maturity:	July 2, 2012
Coupon:	1%
Price:	Par
Exchange premium:	16.384%
Exchange price:	$76.751
Exchange ratio:	14.254 (at any time after July 30)
Call:	July 30, 2008 onwards; if Johnson & Johnson stock closes below $76.751 the day before notice date, par in cash; otherwise 14.254 shares of Johnson & Johnson stock
Underwriter:	Citigroup Global Markets Inc.
Pricing date:	June 23
Settlement:	June 30

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