Citigroup to price notes linked to BRIC currency basket

By Susanna Moon

Chicago, April 25 - Citigroup Funding Inc. plans to price notes due May 2009 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket contains equal weights of the Brazilian real, Russian ruble, Indian rupee and Chinese yuan, all relative to the dollar.

For each $1,000 principal amount of the notes, the payout at maturity will be $950 plus any gain on the basket times a participation rate of between 290% and 330%. The exact rate will be set at pricing.

Investors will receive at least $950 per note.

Citigroup Global Markets Inc. will be the underwriter.

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