By Angela McDaniels
Seattle, Aug. 24 - Citigroup Funding Inc. priced a $123.09 million issue of 9% Equity LinKed Securities (ELKS) due Sept. 5, 2008 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10 unless Halliburton stock falls by 20% or more during the life of the notes, in which case the payout will be a number of Halliburton shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "EKO."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $123.09 million
|
| Maturity: | Sept. 5, 2008
|
| Coupon: | 9%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If Halliburton stock falls below the trigger price during the life of the notes, 0.29967 of Halliburton share or the equivalent cash value; otherwise, par
|
| Initial share price: | $33.37
|
| Trigger price: | $26.70, 80% of the initial share price
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: EKO
|
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