New Issue: Citigroup prices $8.32 million of 12% ELKS linked to Ford stock

By Jennifer Chiou

New York, Nov. 23 - Citigroup Funding Inc. priced $8.32 million of 12% annualized single observation Equity LinKed Securities due May 23, 2012 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 $8.072, 80% of the initial price of $10.09 on the valuation date of May 18, 2012, in which case the payout will be 0.99108 shares of Ford stock.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Funding Inc.
Issue:	Equity LinKed Securities
Underlying stock:	Ford Motor Co. (NYSE: F)
Amount:	$8.32 million
Maturity:	May 23, 2012
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Ford shares fall below the protection price of $8.072, 80% of the initial price on the valuation date of May 18, 2012, in which case 0.99108 shares of Ford stock
Initial price:	$10.09
Protection price:	$8.072, 80% of $10.09
Exchange ratio:	0.99108
Pricing date:	Nov. 22
Settlement date:	Nov. 28
Agent:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	17317U519

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.