Citigroup to price principal-protected notes linked to eight currencies

By Susanna Moon

Chicago, Feb. 4 - Citigroup Funding Inc. plans to price zero-coupon principal-protected notes due February 2010 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of the Brazilian real, Russian ruble, Indian rupee and Chinese yuan, each weighted at 15%, and the Japanese yen, Indonesian rupiah, Malaysian ringgit and Turkish lira, each weighted at 10%.

The payout at maturity will be par plus any appreciation of the basket relative to the dollar multiplied by a participation rate that is expected to be 115% to 135%, with the exact rate to be set at pricing. If the basket falls or remains flat against the dollar, the payout will be par.

The notes will price on Feb. 11 and settle on Feb. 14.

Citigroup Global Markets Inc. will be the underwriter.

© 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.