Citigroup plans 8.5% - 10.5% single observation ELKS on Freeport-McMoRan

By Susanna Moon

Chicago, Jan. 30 - Citigroup Funding Inc. plans to price 8.5% to 10.5% annualized single observation Equity LinKed Securities due Aug. 8, 2012 linked to Freeport-McMoRan Copper & Gold Inc. 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 Freeport-McMoRan shares fall below the protection price - 80% of the initial price - on the valuation date of Aug. 3, in which case the payout will be a number Freeport-McMoRan shares equal to $10 divided by the initial share price.

Citigroup Global Markets Inc. is the agent.

The notes will price on Feb. 3 and settle three days later.

The Cusip number is 17317U188.

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