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Citigroup plans 12%-14% single observation ELKS on Las Vegas Sands
By Marisa Wong
Madison, Wis., Dec. 22 - Citigroup Funding Inc. plans to price 12% to 14% annualized single observation Equity LinKed Securities due July 25, 2012 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The exact rate will be set at pricing.
The payout at maturity will be par of $10 in cash unless Las Vegas Sands shares fall below the protection price - 75% of the initial price - on July 20, 2012, in which case the payout will be a number Las Vegas Sands shares equal to $10 divided by the initial share price.
Citigroup Global Markets Inc. is the agent.
The notes (Cusip: 17317U352) will price on Jan. 25 and settle three business days after that.
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