By Jennifer Chiou
New York, April 26 - Citigroup Funding Inc. priced $7 million of 16.25% annualized Equity LinKed Securities due Oct. 27, 2010 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid at maturity.
If the price of Las Vegas Sands stock declines by 40% or more during the life of the notes, the payout at maturity will be a number of Las Vegas Sands 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: | Las Vegas Sands Corp. (NYSE: LVS)
|
| Amount: | $7 million
|
| Maturity: | Oct. 27, 2010
|
| Coupon: | 16.25% per year (8.125% for the term of the ELKS), payable at maturity
|
| Price: | Par of $10
|
| Payout at maturity: | If Las Vegas Sands stock falls to or below downside threshold price during life of notes, 0.40933 Las Vegas Sands shares or equivalent value in cash; otherwise, par
|
| Initial share price: | $24.43
|
| Downside threshold price: | $14.658, 60% of initial price
|
| Pricing date: | April 22
|
| Settlement date: | April 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.32%
|
| Cusip: | 17314V361
|
© 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.
