By Marisa Wong
Milwaukee, May 27 - Citigroup Funding Inc. priced $15 million of 0% buffered performance securities due July 6, 2011 based on the price of the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus any increase in the exchange-traded fund's share price, subject to a maximum payout of $12.50 per note.
If the share price declines by 5% or less, the payout will be par minus the decline.
If the share price declines by more than 5% but by no more than 30%, the payout will be $9.50 per note.
If the share price declines by more than 30%, the payout will be par plus $2.50 and minus the decline. Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Buffered performance securities
|
| Underlying index fund: | iShares MSCI Emerging Markets
|
| Amount: | $15 million
|
| Maturity: | July 6, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any fund gain, capped at 25%; exposure to decline if share price falls by 5% or less; 95% of par if share price falls by more than 5% but by no more than 30%; par plus 25% and minus the decline if the share price falls by more than 30%
|
| Initial fund price: | $36.52
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17314V270
|
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