| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dell Inc. > News item |
Citigroup plans to price ELKS linked to Dell
By Laura Lutz
Des Moines, Sept. 21 - Citigroup Funding Inc. plans to price an issue of Equity LinKed Securities (ELKS) linked to the common stock of Dell Inc., according to an FWP filing with the Securities and Exchange Commission.
The securities will mature in about six months. They are expected to pay between 10% and 11% per year. The exact coupon will be determined at pricing.
If the trading price of Dell stock stays above the trigger price - expected to be about 77.5% of the initial share price - during the life of the notes, the payout at maturity will be par.
Otherwise, the payout will be a number of Dell shares equal to par divided by the initial share price.
The securities will not be listed on any exchange.
The notes are expected to price in October and settle three days later.
Citigroup Global Markets Inc. will be the agent.
© 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.