By Angela McDaniels
Tacoma, Wash., Jan. 12 - Citigroup Funding Inc. priced $49.37 million of 12% Equity LinKed Securities due July 21, 2010 linked to the common stock of Barrick Gold Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
If Barrick Gold stock falls to or below the downside threshold price during the life of the notes, the payout at maturity will be a number of Barrick Gold shares equal to par of $10 divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter. It will pay a selling concession to Morgan Stanley Smith Barney LLC.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Barrick Gold Corp. (NYSE: ABX)
|
| Amount: | $49.37 million
|
| Maturity: | July 21, 2010
|
| Coupon: | 12%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Barrick Gold stock falls to or below the downside threshold price during the life of the notes, 0.24015 Barrick Gold shares or the equivalent in cash; otherwise, par
|
| Initial share price: | $41.64
|
| Downside threshold price: $31.23, 75% of initial price
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Agent: | Citigroup Global Markets Inc
|
| Fees: | 1.5%
|
| Cusip: | 17314V759
|
© 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.
