New Issue: Citigroup prices $185 million principal-protected notes linked to BRIC currency basket

By E. Janene Geiss

Philadelphia, May 24 - Citigroup Funding Inc. priced a $185 million offering of principal-protected notes due May 29, 2008 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the dollar/Brazilian real, dollar/Russian ruble, dollar/Indian rupee, and dollar/Chinese yuan exchange rates.

Payout at maturity will be par plus any positive return on the basket multiplied by the 200% participation rate. Investors will receive at least par.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Funding Inc.
Issue:	Principal-protected notes
Underlying basket:	Dollar/Brazilian real, dollar/Russian ruble, dollar/Indian rupee, dollar/Chinese yuan exchange rates, equally weighted
Amount:	$185 million
Maturity:	May 29, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain multiplied by 200%; floor of par
Initial exchange rates:	Brazilian real 1.9405; Russian ruble 25.8805; Indian rupee 40.2200; Chinese yuan 7.6551
Participation rate:	200%
Pricing date:	May 22
Settlement date:	May 29
Agent:	Citigroup Global Markets Inc.
Fees:	None

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