Citigroup Funding plans to sell 8%-10% ELKS linked to Monsanto shares

By Susanna Moon

Chicago, Aug. 3 - Citigroup Funding Inc. plans to price 8% to 10% annualized Equity LinKed Securities due Feb. 24, 2011 based on Monsanto Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the price of Monsanto stock falls by 20% or more during the life of the notes, the payout at maturity will be a number of Monsanto shares equal to par divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.

The notes (Cusip 17316G404) are expected to price on Aug. 11 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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