By Marisa Wong
Madison, Wis., Aug. 31 - Citigroup Funding Inc. priced $1.1 million of 17% autocallable equity-linked securities due Sept. 3, 2013 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If Facebook shares close at or above the initial share price on any of three observation dates, the securities will be automatically called at par. The observation dates are Nov. 28, Feb. 28 and May 28, 2013.
If the notes are not called and the final share price is greater than or equal to the downside threshold price - 65% of the initial price - the payout at maturity will be par in cash. Otherwise, the payout will be a number of shares of Facebook stock equal to $1,000 divided by the initial share price, or at the holder's election, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
|
| Amount: | $1.1 million
|
| Maturity: | Sept. 3, 2013
|
| Coupon: | 17%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless final share price is less than threshold price, in which case 51.70631 Facebook shares or cash equivalent
|
| Call: | Automatically at par if Facebook stock closes at or above initial price on Nov. 28, Feb. 28 or May 28, 2013
|
| Initial price: | $19.34
|
| Threshold price: | $12.571, 65% of initial price
|
| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.4%
|
| Cusip: | 1730T0YN3
|
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