Citigroup plans issue of ELKS exchangeable for Halliburton

By Jennifer Chiou

New York, July 24 - Citigroup Funding Inc. plans to price an issue of notes in the Equity LinKed Securities structure (ELKS) linked to Halliburton Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

At maturity, investors will receive par in cash unless Halliburton stock trades below a trigger price - expected to be 75% of the initial price - during the life of the notes. If the trigger is hit, the payout will be a number of Halliburton shares equal to 10 divided by the initial share price.

Citigroup Global Markets Inc. will be calculation agent.

Citigroup said it will apply to list the notes under "EHC" on the American Stock Exchange.

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