Published on 3/15/2006 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $10 million 8.65% Elks linked to Cendant
By Jennifer Chiou
New York, March 15 - Citigroup Funding Inc. priced $10 million of 8.65% Elks (equity-linked securities) due Sept. 21, 2006 linked to Cendant Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be 1 Cendant share for each $16.56 Elk, capped at shares equal to value of $19.04, 115% of the initial price.
| Issuer: | Citigroup Funding Inc.
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| Issue: | Elks (equity-linked securities) medium-term notes
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| Underlying stock: | Cendant Corp.
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| Amount: | $10 million
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| Maturity: | Sept. 21, 2006
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| Interest: | 8.65%
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| Price: | Par of $10.00
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| Payout at maturity: | 1 Cendant share for each $16.56 Elk, capped at shares equal to value of $19.04, 115% of the initial price
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| Exchange price: | $16.56
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| Exchange ratio: | 1
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| Cap price: | $19.04, 115% of initial price of $16.56
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| Pricing date: | March 14
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| Settlement date: | March 21
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| Underwriter: | Citigroup
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