By E. Janene Geiss
Philadelphia, Sept. 24 - Citigroup Funding Inc. priced $54 million of 10.75% Equity LinKed Securities due Oct. 7, 2009 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10.00 unless Halliburton stock falls below the trigger price - 75% of the initial price - during the life of the notes, in which case the payout will be a number of Halliburton shares equal to $10.00 divided by the initial price or, at the holder's option, the value of those shares in cash.
The ELKS have been approved for listing on the NYSE Arca under the symbol "ECK."
Citigroup Global Markets, Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $54 million
|
| Maturity: | Oct. 7, 2009
|
| Coupon: | 10.75%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Halliburton stock falls below the trigger price during the life of the notes, 0.28417 Halliburton shares or an equivalent amount in cash; otherwise, par
|
| Initial share price: | $35.19
|
| Trigger price: | $26.39, 75% of initial price
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 26
|
| Underwriter: | Citigroup Global Markets, Inc.
|
| Fees: | 2.25%
|
| Listing: | NYSE Arca: ECK
|
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