Citigroup to price principal-protected notes inversely linked to euro

By Angela McDaniels

Tacoma, Wash., Nov. 4 - Citigroup Funding Inc. plans to price zero-coupon principal-protected notes due 2011 linked to the euro, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 90% to 110% of the absolute value of any depreciation of the euro relative to the dollar, with the exact participation rate to be set at pricing.

If the euro appreciates relative to the dollar, the payout will be par.

The notes will price and settle in November.

Citigroup Global Markets Inc. is the underwriter.

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