Citigroup plans 11%-13% single observation ELKS tied to Dow Chemical

By Susanna Moon

Chicago, Nov. 23 - Citigroup Funding Inc. plans to price 11% to 13% annualized single observation Equity LinKed Securities due June 20, 2012 linked to Dow Chemical Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par of $10 in cash unless Dow Chemical shares fall below the protection price - 80% of the initial price - on the valuation date, in which case the payout will be a number Dow Chemical shares equal to $10 divided by the initial share price.

Citigroup Global Markets Inc. is the agent.

The notes will price and settle in December.

The Cusip number is 17317U410.

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