By Angela McDaniels
Tacoma, Wash., Nov. 16 - Citigroup Funding Inc. priced $50 million of notes due May 16, 2011 linked to the performance of the Indian rupee relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay 2.65% for an annualized coupon of 5.656%. Interest is payable at maturity.
The payout at maturity will be par if the final exchange rate is less than the strike, which is 46.2 rupees per dollar. Otherwise, investors will lose 1% for every 1% that the final exchange rate exceeds the strike.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
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Issue: | Notes
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Underlying currency: | Indian rupee relative to dollar
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Amount: | $50 million
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Maturity: | May 16, 2011
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Coupon: | 5.656%, payable at maturity
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Price: | Par
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Payout at maturity: | If final exchange rate is less than strike, par; otherwise, 1% loss for every 1% that final exchange rate exceeds strike
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Strike: | 46.2 rupees per dollar
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Pricing date: | Nov. 12
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Settlement date: | Nov. 26
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 1730T0LC1
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