By Angela McDaniels
Tacoma, Wash., May 11 - Citigroup Funding Inc. priced $17.51 million of 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 six-month notes carry an annualized coupon of 13%. Interest is payable monthly.
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.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $17.51 million
|
| Maturity: | Nov. 24, 2010
|
| Coupon: | 13%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Halliburton stock falls to or below downside threshold price during life of notes, 0.36245 Halliburton shares or equivalent value in cash; otherwise, par
|
| Initial share price: | $27.59
|
| Downside threshold price: | $22.072, 80% of initial price
|
| Pricing date: | May 10
|
| Settlement date: | May 13
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17314V353
|
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