Published on 8/29/2005 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $26.5 million 7.5% Targets linked to Motorola
By Jennifer Chiou
New York, Aug. 29 - Citigroup Global Markets Holdings Inc. priced $26.5 million of three-year 7.5% Targets (Targeted Growth Enhanced Terms Securities) linked to Motorola, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Targets Trust XXV (Citigroup Global Markets Holdings Inc.)
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Issue: | Targets (Targeted Growth Enhanced Terms Securities)
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Underlying stock: | Motorola Inc.
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Amount: | $26.5 million
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Maturity: | Aug. 15, 2008
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Interest: | 7.5%, payable quarterly (short first coupon)
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Price: | Par of $10.00
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Payout at maturity: | Monthly returns of Motorola stock, capped at 4.5% appreciation per month and 11% depreciation per month
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Pricing date: | Aug. 24
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Settlement date: | Aug. 30
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Underwriter: | Citigroup
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Listing: | "TGM" on American Stock Exchange
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