Published on 1/5/2006 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $50 million notes exchangeable for ConocoPhillips at 0%, up 18.65%
By Jennifer Chiou
New York, Jan. 5 - Citigroup Funding Inc. priced $50 million 0% notes due Jan. 11, 2010 exchangeable for ConocoPhillips stock with an 18.65% initial exchange premium, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | Citigroup Funding Inc.
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Issue: | Exchangeable medium-term notes, series A
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Underlying stock: | ConocoPhillips
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Amount: | $50 million
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Maturity: | Jan. 11, 2010, unless earlier exchanged
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Interest: | 0%
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Price: | Par
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Exchange premium: | 18.65%
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Exchange ratio: | 13.896
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Initial stock price: | $60.653
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Payout at maturity: | Par
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Pricing date: | Jan. 3
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Settlement date: | Jan. 6
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Underwriter: | Citigroup Global Markets Inc.
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