By Angela McDaniels
Tacoma, Wash., Sept. 28 - Citigroup Funding Inc. priced $4.13 million of 0% dual directional trigger Performance Leveraged Upside Securities due Sept. 29, 2014 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus 150% of the increase, subject to a maximum return of 23%.
If the final share price is less than the initial share price but is greater than or equal to the trigger price, the payout will be par plus the absolute value of the ETF return. The trigger price is 80% of the initial share price.
If the final share price is less than the trigger level, investors will be fully exposed to the decline from the initial share price.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | Financial Select Sector SPDR fund
|
| Amount: | $4,125,000
|
| Maturity: | Sept. 29, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 150% of increase, subject to maximum return of 23%; if final share price is less than initial share price but greater than or equal to trigger price, par plus absolute value of ETF return; if final share price is less than trigger level, full exposure to decline from initial share price
|
| Initial share price: | $15.64
|
| Trigger price: | $12.512, 80% of initial share price
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 17318Q582
|
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