Published on 7/27/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $15.95 million 10% ELKS linked to Broadcom
New York, July 27 - Citigroup Funding Inc. priced $15.95 million of 10% Equity LinKed Securities due Jan. 25, 2012 linked to Broadcom Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Broadcom shares fall below the protection price of $27.93, 80% of the initial price of $34.91, during the life of the notes and finish below the initial price in which case the payout will be 0.28645 shares of Broadcom stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Broadcom Corp. (Symbol: BRCM)
|
| Amount: | $15.95 million
|
| Maturity: | Jan. 25, 2012
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Broadcom shares fall below the protection price of $27.93, 80% of the initial price, and finish below the initial price, in which case 0.28645 shares of Broadcom stock
|
| Initial price: | $34.91
|
| Protection price: | $27.93, 80% of $34.91
|
| Exchange ratio: | 0.28645
|
| Pricing date: | July 25
|
| Settlement date: | July 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17317U766
|
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