By Angela McDaniels
Tacoma, Wash., Dec. 19 - Citigroup Funding Inc. priced a $40.52 million issue of 10.5% Equity LinKed Securities (ELKS) due Jan. 8, 2009 linked to the common stock of Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10 unless Oracle stock falls by 25% or more during the life of the securities, in which case the payout will be a number of Oracle shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The securities have been approved for listing on the American Stock Exchange under the symbol "EJS."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Oracle Corp. (Nasdaq: ORCL)
|
| Amount: | $40.52 million
|
| Maturity: | Jan. 8, 2009
|
| Coupon: | 10.5%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If Oracle stock falls to or below the trigger price during the life of the securities, 0.47059 of an Oracle share or, at the holder's option, the equivalent cash value; otherwise, par
|
| Initial share price: | $21.25
|
| Trigger price: | $15.94, 75% of the initial share price
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: EJS
|
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