Published on 3/30/2005 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $10.763 million 7.02% Elks exchangeable for Southwest Airlines
By Caroline Salls
Pittsburgh, March 30 - Citigroup Global Markets Holdings Inc. priced $10.763 million of one-year 7.02% Elks mandatorily exchangeable for Southwest Airlines Co. common stock, according to a 424B2 document filed with the Securities and Exchange Commission.
Issuer: | Citigroup Global Markets Holdings Inc.
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Issue: | Elks mandatorily exchangeable medium-term notes
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Underlying stock: | Southwest Airlines Co.
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Amount: | $10.763 million
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Maturity: | April 3, 2006
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Interest: | 7.02%, payable monthly
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Price: | Par of $14.45
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Payout at maturity: | Par in cash if Southwest stock finishes at or below $14.45 but never drops by 15% or more during the term of the notes; 1 share of Southwest stock per $14.45 if Southwest stock finishes at or below $14.45 buy drops by 15% or more during the term of the notes; otherwise 1 share of Southwest stock, capped at $15.895 per $14.45, 110% of initial price
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Pricing date: | March 23
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Settlement date: | March 30
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Underwriter: | Citigroup
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