New Issue: Citigroup prices $2.65 million contingent participation notes linked to Russell 2000

By E. Janene Geiss

Philadelphia, July 23 - Citigroup Funding Inc. priced an issue of $2.65 million zero-coupon contingent participation principal-protected notes due July 17, 2009 linked to shares of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index remains at or below the upper boundary of 117% of its initial level and at or above the lower boundary of 83% of its initial level throughout the life of the notes, the payout at maturity will be par plus the absolute value of the index return. Otherwise, the payout will be par.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Funding Inc.
Issue:	Contingent participation principal-protected notes
Underlying index:	Russell 2000
Amount:	$2.65 million
Maturity:	July 17, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If index remains at or below the upper boundary of 117% of its initial level and at or above the lower boundary of 83% of its initial level, par plus the absolute value of the index return; floor of par
Initial index level:	697.63
Upper boundary:	816.23, 117% of initial level
Lower boundary:	579.03, 83% of initial level
Pricing date:	July 21
Settlement date:	July 24
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.25%

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