New Issue: Citigroup prices $34.5 million 2.87% Elks linked to Tyco

By Jennifer Chiou

New York, March 9 - Citigroup Funding Inc. priced $34,500,020.10 of 2.87% Elks (equity-linked securities) due Dec. 15, 2006 linked to Tyco International Ltd. stock, according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors receive a Tyco share for each $25.62 Elk if the final stock price is less than the cap price of $33.31, 130% of the initial price of Tyco stock. Investors receive a number of Tyco shares equal to the $33.31 divided by the final stock price if the final price of Tyco shares is above the cap price.

Issuer:	Citigroup Funding Inc.
Issue:	Elks (equity-linked securities) medium-term notes
Underlying stock:	Tyco International Ltd.
Amount:	$34,500,020.10
Maturity:	Dec. 15, 2006
Interest:	2.87%
Price:	Par of $25.62
Payout at maturity:	1 Tyco share for each $25.62 Elk, capped at shares equal to value of $33.31, 130% of the initial price
Cap price:	$33.31, 130% of initial price of $25.62
Pricing date:	March 8
Settlement date:	March 15
Underwriter:	Citigroup
Listing:	"EET" on American Stock Exchange

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