Published on 3/29/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $47.59 million 10% ELKS linked to Chesapeake Energy
New York, March 29 - Citigroup Funding Inc. priced $47.59 million of 10% Equity LinKed Securities due Sept. 21, 2011 linked to Chesapeake Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Chesapeake Energy shares fall below the protection price of $27.39, 80% of the initial price of $34.24, during the life of the notes and finish below the initial price in which case the payout will be 0.29206 shares of Chesapeake Energy stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Chesapeake Energy Corp. (Symbol: CHK)
|
| Amount: | $47.59 million
|
| Maturity: | Sept. 21, 2011
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Chesapeake Energy shares fall below the protection price of $27.39, 80% of the initial price, and finish below the initial price, in which case 0.29206 shares of Chesapeake Energy stock
|
| Initial price: | $34.24
|
| Protection price: | $27.39, 80% of $34.24
|
| Exchange ratio: | 0.29206
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G297
|
© 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.
