Published on 3/7/2007 in the Prospect News Convertibles Daily and Prospect News Structured Products Daily.
New Issue: Citigroup prices $150 million 9.63% ELKS linked to D.R. Horton
By Angela McDaniels
Seattle, March 7 - Citigroup Funding Inc. priced a $150,039,128 offering of Equity LinKed Securities (ELKS) due March 14, 2008 linked to the common stock of D.R. Horton, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be the cash value of one share of D.R. Horton stock. The payout will be capped at $29.98 per $24.9857 principal amount of securities, which is equal to a maximum return of 20%.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | D.R. Horton, Inc.
|
| Amount: | $150,039,128.50
|
| Maturity: | March 14, 2008
|
| Interest: | 9.63%, payable quarterly
|
| Price: | Par of $24.9857
|
| Payout at maturity: | Cash value of one D.R. Horton share, capped at $29.98 per $24.9857 principal amount of securities
|
| Pricing date: | March 6
|
| Settlement date: | March 12
|
| Agent: | Citigroup Global Markets Inc.
|
| Agent fees: | None
|
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