By Angela McDaniels
Tacoma, Wash., Dec. 23 - Citigroup Funding Inc. priced $8.67 million of 12% annualized Equity LinKed Securities due June 20, 2012 linked to the common stock of Dow Chemical Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 in cash unless the final price of Dow Chemical shares is less than or equal to 80% of the initial share price, in which case the payout will be a number of shares of Dow Chemical stock equal to $10 divided by the initial share price or, at each holder's option, a cash amount equal to the value of those shares.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Funding Inc.
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Issue: | Equity LinKed Securities
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Underlying stock: | Dow Chemical Co. (NYSE: DOW)
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Amount: | $8.67 million
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Maturity: | June 20, 2012
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Coupon: | 12%, payable monthly
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Price: | Par of $10.00
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Payout at maturity: | Par in cash unless Dow Chemical shares finish at or below protection price, in which case 0.35638 shares of Dow Chemical stock or equivalent amount in cash
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Initial price: | $28.06
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Protection price: | $22.448, 80% of initial share price
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17317U410
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