Published on 12/29/2010 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $95.36 million 10% ELKS linked to Ford
New York, Dec. 29 - Citigroup Funding Inc. priced $95.36 million of 10% Equity LinKed Securities due June 22, 2011 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ford shares fall below the protection price of $13.50, 80% of the initial price of $16.87, during the life of the notes and finish below the initial price in which case the payout will be Ford shares equal to $1,000 principal amount divided by the initial price.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Ford Motor Co. (Symbol: F)
|
| Amount: | $95.36 | million
|
| Maturity: | June 22, 2011
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Ford shares fall below the protection price of $13.50, 80% of the initial price, and finish below the initial price, in which case Ford shares equal to $1,000 principal amount divided by the initial price
|
| Initial price: | $16.87
|
| Protection price: | $13.50, 80% of $16.87
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G594
|
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