By Marisa Wong
Madison, Wis., Feb. 23 - Citigroup Funding Inc. priced $15.52 million of 0% mandatory callable participation notes due Feb. 27, 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus 6% if the exchange-traded fund's shares close at or above the initial share price on Aug. 22.
If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus 110% of the fund gain. Investors will receive par if the share price declines by 10% or less and will receive par plus the fund return if the share price declines by more than 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Mandatory callable participation notes
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $15.52 million
|
| Maturity: | Feb. 27, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final price is greater than initial price, par plus 110% of fund gain; par if fund falls by up to 10%; par plus return if fund falls by more than 10%
|
| Call: | Automatically at 106 if shares close at or above initial price on Aug. 22
|
| Initial price: | $44.80
|
| Downside threshold price: | $40.32, 90% of initial price
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17316G438
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
