By Jennifer Chiou
New York, April 28 - Citigroup Funding Inc. priced $1.76 million of 10% annualized Equity LinKed Securities due Oct. 20, 2010 linked to the common stock of Freeport-McMoRan Copper and Gold Inc., according to a 424B2 with the Securities and Exchange Commission.
Interest is payable at maturity.
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: | $1.76 million
|
| Maturity: | Oct. 20, 2010
|
| Coupon: | 10%, payable at maturity
|
| 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, 0.12438 Freeport-McMoRan shares or the equivalent in cash; otherwise, par
|
| Initial share price: | $80.40
|
| Downside threshold price: | $60.30, 75% of initial price
|
| Pricing date: | April 26
|
| Settlement date: | April 29
|
| Agent: | Citigroup Global Markets Inc
|
| Fees: | 1%
|
| Cusip: | 17314V387
|
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