By Jennifer Chiou
New York, June 26 - Citigroup Funding Inc. priced a $65.69 million issue of 12.5% Equity LinKed Securities (ELKS) due Jan. 1, 2008 linked to the common stock of Yahoo! Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable at maturity.
The payout at maturity will be par of $10.00 unless Yahoo! stock falls by 20% or more during the life of the notes, in which case the payout will a number of Yahoo! shares equal to $10.00 divided by the initial share price or, at the holder's option, the equivalent cash value.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Yahoo! Inc.
|
| Amount: | $65.69 million
|
| Maturity: | Jan. 1, 2008
|
| Coupon: | 12.5%, payable at maturity
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Yahoo! stock falls below the trigger price during the life of the notes, 0.36523 of a share of Yahoo! or the equivalent cash value; otherwise, par
|
| Initial share price: | $27.38
|
| Trigger price: | $21.90, 80% of the initial share price
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
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