By Angela McDaniels
Tacoma, Wash., Feb. 22 - Citigroup Funding Inc. priced $11.07 million of synthetic buy-write notes due Aug. 24, 2012 linked to the common stock of Mosaic Co., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes have a coupon of 3.7% per year. Interest is payable quarterly.
The face amount of each note is $55.63, which is equal to the initial price of Mosaic stock.
The payout at maturity will be an amount in cash equal to the lesser of the final share price and the cap price, which is 125% of the initial share price. If the final share price is less than the cap price, the amount is payable in Mosaic shares instead of cash at each holder's option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Synthetic buy-write notes
|
| Underlying stock: | Mosaic Co. (Symbol: MOS)
|
| Amount: | $11,070,870.67
|
| Maturity: | Aug. 24, 2012
|
| Coupon: | 3.7%, payable quarterly
|
| Price: | Par of $55.63
|
| Payout at maturity: | Cash amount equal to lesser of final share price and cap price; if final share price is less than cap price, amount is payable in Mosaic shares at each holder's option
|
| Initial share price | $55.63
|
| Cap price: | $69.5375, 125% of initial share price
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17317U162
|
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