By Angela McDaniels
Tacoma, Wash., May 27 - Citigroup Funding Inc. priced $33.8 million of 10% Equity LinKed Securities (ELKS) due June 5, 2009 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10.00 unless Schlumberger stock falls below the trigger price - 72.5% of the initial price - during the life of the notes, in which case the payout will be a number of Schlumberger shares equal to $10.00 divided by the initial price or, at the holder's option, the equivalent amount in cash.
Citigroup Global Markets, Inc. is the underwriter.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "EAP."
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Schlumberger Ltd. (NYSE: SLB)
|
| Amount: | $33.8 million
|
| Maturity: | June 5, 2009
|
| Coupon: | 10%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Schlumberger stock falls below the trigger price during the life of the notes, 0.09759 of a Schlumberger share or an equivalent amount in cash; otherwise, par
|
| Initial share price: | $102.47
|
| Trigger price: | $74.29, 72.5% of initial price
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Underwriter: | Citigroup Global Markets, Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: EAP
|
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