Published on 6/26/2007 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $33.585 million 13% ELKS linked to SanDisk
By Laura Lutz
Des Moines, June 26 - Citigroup Funding Inc. priced $33.585 million of 13% Equity LinKed Securities (ELKS) due Jan. 24, 2008 linked to SanDisk Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 unless SanDisk stock falls by 25% or more during the life of the notes, in which case investors will receive a number of SanDisk shares equal to $10.00 divided by the initial share price.
Citigroup Global Markets is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | SanDisk Corp.
|
| Amount: | $33.585 million
|
| Maturity: | Jan. 24, 2008
|
| Coupon: | 13%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If SanDisk stock falls below the trigger price during the life of the notes, 0.20877 of a SanDisk share for each ELKS; otherwise, par
|
| Initial share price: | $47.90
|
| Trigger price: | $35.93, 75% of $47.90
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Underwriter: | Citigroup Global Markets
|
| Fees: | 2.25%
|
© 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.
