Published on 2/23/2010 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.41 million 2% minimum coupon notes linked to gold
By Susanna Moon
Chicago, Feb. 23 - Citigroup Funding Inc. priced $1.41 million of 2% minimum coupon principal-protected notes due Feb. 24, 2015 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be based on the closing price of gold, with a minimum rate of 2% and a maximum rate of 16%. Interest is payable annually.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | 2% minimum coupon principal-protected notes
|
| Underlying commodity: | Gold
|
| Amount: | $1,408,200
|
| Maturity: | Feb. 24, 2015
|
| Coupon: | Based on gold price, floor of 2% and cap of 16%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17314V627
|
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