Published on 12/15/2006 in the Prospect News Convertibles Daily and Prospect News Structured Products Daily.
New Issue: Citigroup prices $174.992 million 7.5% ELKS linked to Texas Instruments
By Jennifer Chiou
New York, Dec. 15 - Citigroup Funding Inc. priced $174,992,073 of 7.5% Equity LinKed Securities (ELKS) due Dec. 28, 2007 linked to Texas Instruments Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be one Texas Instruments share for each $29.5445 ELKS, capped at shares equal to a value of $33.98.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Texas Instruments Inc.
|
| Amount: | $174,992,073.50
|
| Maturity: | Dec. 28, 2007
|
| Interest: | 7.5%
|
| Price: | Par of $29.5445
|
| Payout at maturity: | 1 Texas Instruments share for each $29.5445 ELKS, capped at shares equal to value of $33.98, 115% of the initial price
|
| Exchange ratio: | 1
|
| Initial price: | $29.5445
|
| Cap price: | $33.98, 115% of initial price of $29.5445
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 27
|
| Underwriter: | Citigroup
|
| Fees: | None
|
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