Citigroup to price 12% to 14% ELKS linked to Yahoo!

By Jennifer Chiou

New York, Dec. 19 - Citigroup Funding Inc. plans to price six-month Equity LinKed Securities (ELKS) linked to the common stock of Yahoo! Inc., according to an FWP filing with the Securities and Exchange Commission.

The securities will carry a coupon of 12% to 14%. The exact coupon will be determined at pricing, which will occur in January.

The payout at maturity will be par of $10 unless Yahoo! stock falls by 30% or more during the life of the securities, in which case investors will receive a number of Yahoo! shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.

Citigroup Global Markets Inc. will be the underwriter.

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