Published on 12/23/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.03 million buffered digital plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Dec. 23 - Citigroup Funding Inc. priced $10.03 million of 0% buffered digital plus notes due May 22, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par plus the greater of 42% and the index return. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
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Issue: | Buffered digital plus notes
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Underlying index: | S&P 500
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Amount: | $10,027,000
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Maturity: | May 22, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial level, par plus greater of 42% and index return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 1,254
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 1730T0QP7
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