By Angela McDaniels
Tacoma, Wash., June 24 - Citigroup Funding Inc. priced $8.28 million of 13% Equity LinKed Securities due July 21, 2010 linked to the class A special common stock of Comcast Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
If Comcast stock declines by 30% or more during the life of the notes, the payout at maturity will be a number of Comcast shares equal to par of $10 divided by the initial share price or, at the 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: | Comcast Corp. class A special common stock (Nasdaq: CMCSK)
|
| Amount: | $8.28 million
|
| Maturity: | July 21, 2010
|
| Coupon: | 13%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If Comcast stock falls below downside threshold price during life of notes, 0.77760 shares of Comcast or equivalent cash amount; otherwise, par
|
| Initial share price: | $12.86
|
| Downside threshold price: $9.00, 70% of initial price
|
| Pricing date: | June 22
|
| Settlement date: | June 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
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