Published on 5/20/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5 million four-month 17% ELKS linked to SINA shares
By Susanna Moon
Chicago, May 20 - Citigroup Funding Inc. priced $5 million of 17% Equity LinKed Securities due Sept. 22, 2011 linked to SINA Corp. American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SINA shares fall below the protection price - 65% of the initial price - during the life of the notes and finish below the initial price, in which case the payout will be a number of SINA shares equal to $1,000 divided by the initial share price.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying shares: | SINA Corp. (Nasdaq: SINA)
|
| Amount: | $5 million
|
| Maturity: | Sept. 22, 2011
|
| Coupon: | 17%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless SINA shares fall below the trigger and finish below the initial price, in which case 0.08854 SINA shares
|
| Initial price: | $112.94
|
| Protection price: | $73.41, 65% of initial price
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.2%
|
| Cusip: | 17317U303
|
© 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.
