Citigroup plans to price six-month 9%-10% ELKS linked to Yahoo!

By Toni Weeks

San Diego, May 19 - Citigroup Funding Inc. plans to price 9% to 10% annualized Equity LinKed Securities due Nov. 25, 2011 linked to the common stock of Yahoo! Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par of $10 unless Yahoo! 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 Yahoo! 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: 17317U501) are expected to price May 19 and settle four business days later.

Citigroup Global Markets Inc. is the underwriter.

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