By Jennifer Chiou
New York, Feb. 22 - Citigroup Funding Inc. priced a $20.4 million issue of 11.5% Equity LinKed Securities (ELKS) due March 5, 2009 linked to the common stock of NYSE Euronext, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10 unless the NYSE Euronext falls by 35% or more during the life of the notes, in which case the payout will be a number of NYSE Euronext shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The ELKS have been approved for listing on the American Stock Exchange under the symbol "EKJ."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | NYSE Euronext, Inc. (NYSE: NYX)
|
| Amount: | $20.4 million
|
| Maturity: | March 5, 2009
|
| Coupon: | 11.5%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If NYSE Euronext trades at or below the trigger price during the life of the notes, 0.14789 of a share of NYSE Euronext or the equivalent cash value; otherwise, par
|
| Initial share price: | $67.62
|
| Trigger price: | $43.95, 65% of the initial share price
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | "EKJ" on American Stock Exchange
|
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