Published on 9/28/2005 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $62.5 million 7.75% Elks exchangeable for Dow Chemical
New York, Sept. 28 - Citigroup Funding Inc. priced $62.5 million of 7.75% Elks (equity-linked securities) due Oct. 13, 2006 linked to Dow Chemical Co. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
| Issuer: | Citigroup Funding Inc.
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| Issue: | Elks (equity-linked securities) medium-term notes, series A
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| Underlying stock: | Dow Chemical Co.
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| Amount: | $62.5 million
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| Maturity: | Oct. 13, 2006
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| Interest: | 7.75%
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| Price: | Par of $10.00
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| Payout at maturity: | Par in cash unless Dow Chemical stock trades below 82.5% of initial price at any time in which case 0.23804 shares of Dow Chemical stock
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| Trigger price: | $34.66, 82.5% of initial price of $42.01
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup
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| Listing: | "EKD" on American Stock Exchange
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