Published on 5/30/2006 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $5 million 4% Elks exchangeable for Walter Industries
By Jennifer Chiou
New York, May 30 - Citigroup Funding Inc. priced $5 million of 4% Elks (equity-linked securities) due June 3, 2008 linked of Walter Industries Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
At maturity, investors will receive one Walter Industries share for each $59.97 Elk, capped at shares equal to a value of $94.75 or 158% of the initial price.
| Issuer: | Citigroup Funding Inc.
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| Issue: | Elks (equity-linked securities) medium-term notes
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| Underlying security: | Walter Industries Inc.
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| Amount: | $5 million
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| Maturity: | June 3, 2008
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| Interest: | 4%
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| Price: | Par of $10.00
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| Payout at maturity: | 1 Walter Industries share for each $59.97 Elk, capped at shares equal to value of $94.75, 158% of the initial price
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| Initial share price: | $59.97
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| Cap price: | $94.75, 158% of initial share price
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| Pricing date: | May 25
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| Settlement date: | June 2
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| Underwriter: | Citigroup Global Markets Inc.
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