By Angela McDaniels
Seattle, June 22 - Citigroup Funding Inc. priced a $9,289,900 issue of 9.5% Equity LinKed Securities (ELKS) due July 1, 2008 linked to the common stock of Yahoo! Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10 unless Yahoo! stock falls by 25% or more during the life of the notes, in which case the payout will a number of Yahoo! shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "EKE."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Yahoo! Inc.
|
| Amount: | $9,289,900
|
| Maturity: | July 1, 2008
|
| Coupon: | 9.5%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If Yahoo! stock falls below the trigger price during the life of the notes, 0.3614 of a share of Yahoo! or the equivalent cash value; otherwise, par
|
| Initial share price: | $27.67
|
| Trigger price: | $20.75, 75% of the initial share price
|
| Pricing date: | June 21
|
| Settlement date: | June 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
© 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.
