Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Goodyear Tire & Rubber Co. > News item |
Citigroup plans to price six-month 11%-13% ELKS tied to Goodyear Tire
By Toni Weeks
San Diego, May 25 - Citigroup Funding Inc. plans to price 11% to 13% annualized Equity LinKed Securities due Dec. 21, 2011 linked to the common stock of Goodyear Tire & Rubber Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact rate will be set at pricing.
The payout at maturity will be par of $10 unless Goodyear shares fall to or below 80% of the initial price during the life of the notes, in which case the payout will be a number of shares of Goodyear stock equal to $10 divided by the initial price or, at the investor's option, a cash amount equal to the value of those shares.
The notes (Cusip: 17317U873) are expected to price June 24 and settle three business days later.
Citigroup Global Markets Inc. is the underwriter.
© 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.