Citigroup plans six-month 12.2%-12.8% buy-write notes tied to Mosaic

By Marisa Wong

Madison, Wis., Sept. 20 - Citigroup Funding Inc. plans to price synthetic buy-write notes due March 2011 based on the common stock of Mosaic Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly at an annualized fixed rate of 12.2% to 12.8%. The exact coupon will be set at pricing.

The payout at maturity will equal par plus the share price return, subject to a maximum return of 15%. Investors will share in any losses.

The notes are expected to price and settle in September.

Citigroup Global Markets Inc. is the agent.

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