By Susanna Moon
Chicago, Sept. 5 - Citigroup Funding Inc. priced $14.71 million of 10% annualized single observation Equity LinKed Securities due March 5, 2013 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 unless the final price of Freeport-McMoRan shares is less than or equal to 80% of the initial price, in which case the payout will be a number of Freeport-McMoRan shares equal to $10 divided by the initial share price or, at each holder's option, an amount of cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Single observation Equity LinKed Securities
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $14.71 million
|
| Maturity: | March 5, 2013
|
| Coupon: | 10%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par unless final price of Freeport-McMoRan shares is less than or equal to 70% of initial price, in which case 0.28827 Freeport-McMoRan shares or cash equivalent
|
| Initial share price: | $34.69
|
| Trigger price: | $27.752, 80% of initial price
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17318Q624
|
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