By Marisa Wong
Madison, Wis., Sept. 28 - Citigroup Funding Inc. priced $91.63 million of 8% annualized Equity LinKed Securities due March 23, 2011 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the closing price of General Electric stock falls by 20% or more during the life of the notes, the payout at maturity will be a number of General Electric shares equal to par of $10 divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | General Electric Co. (NYSE: GE)
|
| Amount: | $91.63 million
|
| Maturity: | March 23, 2011
|
| Coupon: | 8% per year, payable at maturity
|
| Price: | Par of $10
|
| Payout at maturity: | If shares falls to or below downside threshold price during life of notes, 0.60024 General Electric shares or value thereof in cash; otherwise, par
|
| Initial price: | $16.66
|
| Downside threshold price: | $13.33, or 80% of initial price
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G842
|
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