By Jennifer Chiou
New York, April 25 - Citigroup Funding Inc. priced a $28 million offering of zero-coupon principal-protected notes due Oct. 27, 2008 linked to two baskets of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
Currency basket A includes equal weights of the Brazilian real, Indian rupee, South African rand and Turkish lira. Currency basket B includes equal weights of the Swiss franc, Japanese yen and Czech koruna.
The payout at maturity will be determined based upon the performance of the currencies against the dollar.
If the currency basket A return minus the currency basket B return is greater than the trigger percentage of 24%, the payout will be par plus the spread of the currency basket A return over the currency basket B return.
If the currency basket A return minus the currency basket B return is greater than zero but less than or equal to the trigger percentage, the payout will be par plus the trigger percentage.
If the currency basket A return minus the currency basket B return is less than zero, the payout will be par.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Funding Inc.
|
Issue: | Principal-protected notes
|
Underlying baskets: | Currency basket A with equal weights of the Brazilian real, Indian rupee, South African rand and Turkish lira; currency basket B with equal weights of the Swiss franc, Japanese yen and Czech koruna, all against the dollar
|
Amount: | $28 million
|
Maturity: | Oct. 27, 2008
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus the spread of the currency basket A return over the currency basket B return if the currency basket A return minus the currency basket B return is greater than the trigger percentage of 24%; if the currency basket A return minus the currency basket B return is greater than zero but less than or equal to the trigger percentage, the payout will be par plus the trigger percentage; par if the currency basket A return minus the currency basket B return is less than zero
|
Pricing date: | April 23
|
Settlement date: | April 27
|
Agent: | Citigroup Global Markets Inc.
|
Agent fees: | None
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.