By Jennifer Chiou
New York, Jan. 27 - Citigroup Funding Inc. priced $8.49 million of 9% Equity LinKed Securities due Feb. 24, 2010 linked to the common stock of Freeport-McMoRan Copper and Gold Inc., according to an FWP with the Securities and Exchange Commission.
Interest is payable monthly.
If Freeport-McMoRan stock falls to or below the downside threshold price - 75% of the initial share price - during the life of the notes, the payout at maturity will be a number of Freeport-McMoRan shares equal to par of $10 divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Freeport-McMoRan Copper and Gold Inc. (NYSE: FCX)
|
| Amount: | $8.49 million
|
| Maturity: | Feb. 24, 2010
|
| Coupon: | 9%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If Freeport-McMoRan stock falls to or below the downside threshold price during the life of the notes, 0.13405 Freeport-McMoRan shares or the equivalent in cash; otherwise, par
|
| Initial share price: | $74.60
|
| Downside threshold price: | $55.95, 75% of initial price
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 28
|
| Agent: | Citigroup Global Markets Inc
|
| Fees: | 2%
|
| Cusip: | 17314V692
|
© 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.
