By Susanna Moon
Chicago, Sept. 23 - Citigroup Funding Inc. priced $18.3 million of 15% Equity LinKed Securities due Sept. 25, 2009 linked to the common stock of Barrick Gold Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
Payout at maturity is par of $10 unless Barrick stock falls by 35% or more during the life of the notes, in which case the payout will be a number of Barrick shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The notes have been approved for listing on NYSE Arca under the symbol "ELQ."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Barrick Gold Corp. (NYSE: ABX)
|
| Amount: | $18.3 million
|
| Maturity: | Sept. 25, 2009
|
| Coupon: | 15%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par unless the stock falls by 35% or more during the life of the notes, in which case 0.28490 Barrick shares
|
| Initial share price: | $35.10
|
| Downside threshold price: | $22.82, or 65% of the initial share price
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | NYSE Arca: ELQ
|
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