By Toni Weeks
San Diego, Dec. 19 - Citigroup Funding Inc. priced $15.73 million of 7% annualized single observation Equity LinKed Securities due June 20, 2013 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par of $10 unless Apple shares fall below 80% of the initial price on the June 17, 2013 valuation day, in which case the payout will be a number of shares of Apple stock equal to $10 divided by the initial price or, at the investor's option, an equivalent cash amount.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $15.73 million
|
| Maturity: | June 20, 2013
|
| Coupon: | 7%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par in cash unless Apple shares finish below downside threshold price, in which case 0.01926 shares of Apple stock or equivalent amount in cash
|
| Initial share price: | $519.17
|
| Downside threshold price: | $415.336, 80% of initial share price
|
| Pricing date: | Dec. 17
|
| Settlement date: | Dec. 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17318Q350
|
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