By E. Janene Geiss
Philadelphia, March 26 - Citigroup Funding Inc. priced $71.28 million of 11.75% Equity LinKed Securities (ELKS) due April 6, 2009 linked to the common stock of Deere & Co., 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 Deere stock falls below the trigger price - 65% of the initial price - during the life of the notes, in which case the payout will be a number of Deere shares equal to $10 divided by the initial price or, at the holder's option, the equivalent amount in cash.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "ECB."
Citigroup Global Markets, Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Deere & Co. (NYSE: DE)
|
| Amount: | $71.28 million
|
| Maturity: | April 6, 2009
|
| Coupon: | 11.75%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Deere stock falls below the trigger price during the life of the notes, 0.12294 of a Deere share or the equivalent in cash; otherwise, par
|
| Initial share price: | $81.34
|
| Trigger price: | $52.87, 65% of initial price
|
| Pricing date: | March 24
|
| Settlement date: | March 27
|
| Underwriter: | Citigroup Global Markets, Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: ECB
|
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