Published on 4/21/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7 million 12.75% ELKS linked to lululemon athletica
New York, April 21 - Citigroup Funding Inc. priced $7 million of 12.75% Equity LinKed Securities due Oct. 24, 2011 linked to lululemon athletica inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless lululemon athletica shares fall below the protection price of $65.17, 65% of the initial price of $100.26, during the life of the notes and finish below the initial price in which case the payout will be 0.09974 shares of lululemon athletica stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | lululemon athletica inc. (Symbol: LULU)
|
| Amount: | $7 million
|
| Maturity: | Oct. 24, 2011
|
| Coupon: | 12.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless lululemon athletica shares fall below the protection price of $65.17, 65% of the initial price, and finish below the initial price, in which case 0.09974 shares of lululemon athletica stock
|
| Initial price: | $100.26
|
| Protection price: | $65.17, 65% of $100.26
|
| Exchange ratio: | 0.09974
|
| Pricing date: | April 19
|
| Settlement date: | April 25
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.2%
|
| Cusip: | 17316G149
|
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