Citigroup to price Elks exchangeable for Texas Instruments

By Jennifer Chiou

New York, Jan. 19 - Citigroup Global Markets Holdings Inc. is planning an issue of Elks (Equity Linked Securities) due 2007 exchangeable for Texas Instruments Inc. stock, according to a 424B2 document filed Monday with the Securities and Exchange Commission.

The notes will be priced at par of $10.00.

Payout at maturity will depend on the performance of Texas Instruments stock.

If the company's stock trades at less than or equal to a yet-to-be-determined percentage of the initial price during the life of the notes, investors will receive a preset number of Texas Instruments shares. Otherwise holders will receive par in cash.

Citigroup said it will apply to have the securities listed on the American Stock Exchange under the symbol "EET."

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