By Angela McDaniels
Tacoma, Wash., March 17 - Citigroup Funding Inc. priced $56.65 million of 8.5% Equity LinKed Securities (ELKS) due March 25, 2009 linked to the common stock of Exxon Mobil Corp., 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 Exxon Mobil stock falls below the trigger price - 77.5% of the initial price - during the life of the notes, in which case the payout will be a number of Exxon Mobil shares equal to $10 divided by the initial price or, at the holder's option, the equivalent amount in cash.
Citigroup Global Markets, Inc. is the underwriter.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "ESM."
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Exxon Mobil Corp. (NYSE: XOM)
|
| Amount: | $56.65 million
|
| Maturity: | March 25, 2009
|
| Coupon: | 8.5%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Exxon Mobil stock falls below the trigger price during the life of the notes, 0.11488 of an Exxon Mobil share or the equivalent in cash; otherwise, par
|
| Initial share price: | $87.05
|
| Trigger price: | $67.46, 77.5% of initial price
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Underwriter: | Citigroup Global Markets, Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: ESM
|
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