Published on 3/30/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6 million 16.75% ELKS linked to JDS Uniphase
New York, March 30 - Citigroup Funding Inc. priced $6 million of 16.75% Equity LinKed Securities due Sept. 01, 2011 linked to JDS Uniphase shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless JDS Uniphase shares fall below the protection price of $11.62, 60% of the initial price of $19.37, during the life of the notes and finish below the initial price in which case the payout will be 0.51626 shares of JDS Uniphase stock.
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: | JDS Uniphase
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Amount: | $6 million
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Maturity: | Sept. 01, 2011
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Coupon: | 16.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless JDS Uniphase shares fall below the protection price of $11.62, 60% of the initial price, and finish below the initial price, in which case 0.51626 shares of JDS Uniphase stock
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Initial price: | $19.37
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Protection price: | $11.62, 60% of $19.37
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Exchange ratio: | 0.51626
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.2%
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Cusip: | 17316G172
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