By Angela McDaniels
Tacoma, Wash., Feb. 23 - Citigroup Funding Inc. priced $3.64 million of 9% Equity LinKed Securities due March 23, 2011 linked to the common stock of Alcoa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
If the price of Alcoa stock declines by 25% or more during the life of the notes, the payout at maturity will be a number of Alcoa 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.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Alcoa Inc. (NYSE: AA)
|
| Amount: | $3.64 million
|
| Maturity: | March 23, 2011
|
| Coupon: | 9%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Alcoa stock falls to or below downside threshold price during life of notes, 0.7391 Aloca shares or equivalent value in cash; otherwise, par
|
| Initial share price: | $13.53
|
| Downside threshold price: | $10.148, 75% of initial price
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17314V619
|
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