Citigroup to price Equity Lasers linked to Wal-Mart

By Susanna Moon

Chicago, July 1 - Citigroup Funding Inc. plans to price 15-month 0% Equity Leading Stockmarket Return Securities linked to the common stock of Wal-Mart Stores, Inc., according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par of $10 plus triple any gains in Wal-Mart stock, up to a maximum return of 16% to 20%. The exact cap will be set at pricing.

If the final share price is less than the initial share price and the shares do not fall by more than 25% during the life of the notes, the payout will be par. Otherwise, investors will receive a number of Wal-Mart shares equal to par divided by the initial share price.

The notes will price in July and settle three days later.

The issuer said it would apply to list the notes on the American Stock Exchange under the symbol "ILB."

Citigroup Global Markets Inc. will be the underwriter.

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