Citigroup plans to price 9%-13% ELKS linked to Halliburton stock

By Marisa Wong

Milwaukee, May 5 - Citigroup Funding Inc. plans to price Equity LinKed Securities due Nov. 24, 2010 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 9% to 13%, with the exact rate to be set at pricing. Interest will be paid at maturity.

If the price of Halliburton stock declines by 20% or more during the life of the notes, the payout at maturity will be a number of Halliburton shares equal to par of $10 divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.

The notes are expected to price May 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.