Citigroup to price 9%-11% ELKS linked to Halliburton stock

By Jennifer Chiou

New York, Aug. 25 - Citigroup Funding Inc. plans to price one-year Equity-LinKed Securities linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.

The securities have a coupon of 9% to 11%, payable semiannually. The exact coupon price will be determined at pricing, which is scheduled for September.

The payout at maturity will be par of $10 unless Halliburton stock falls by 25% or more during the life of the securities, in which case investors will receive a number of Halliburton shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.

Citigroup Global Markets Inc. will be 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.