Published on 4/11/2008 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.5 million contingent participation notes linked to Russell 2000
By Jennifer Chiou
New York, April 11 - Citigroup Funding Inc. priced $6.5 million of 0% contingent participation principal-protected notes due Dec. 29, 2008 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index remains within a specified range during the life of the notes - 89.5% to 118.5% of the initial index level - the payout at maturity will be par plus the absolute value of the index return.
Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Contingent participation principal-protected notes
|
| Underlying index: | Russell 2000
|
| Amount: | $6.5 million
|
| Maturity: | Dec. 29, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index stays within the upper and lower barriers of the index range, par plus the absolute value of the index return; otherwise, par
|
| Initial index level: | 698.38
|
| Lower barrier: | 625.05, 89.5% of initial level
|
| Upper barrier: | 824.09, 118.5% of initial level
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
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