By Angela McDaniels
Tacoma, Wash., Oct. 27 - Citigroup Funding Inc. priced $2.25 million of 12.5% Equity LinKed Securities due Nov. 5, 2009 linked to the common stock of Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
If Google stock declines by 30% or more during the life of the notes, the payout at maturity will be a number of Google shares equal to par of $10.00 divided by the initial share price or, at the holder's option, the value of those shares in cash. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Google Inc. (Nasdaq: GOOG)
|
| Amount: | $2.25 million
|
| Maturity: | Nov. 5, 2009
|
| Coupon: | 12.5%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If share price falls to or below trigger price during life of notes, 0.02838 Google shares or equivalent value in cash; otherwise, par
|
| Initial share price: | $352.32
|
| Trigger price: | $246.62, 70% of initial share price
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
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