By Angela McDaniels
Tacoma, Wash., May 26 - Citigroup Funding Inc. priced $2.55 million of 16% annualized Equity LinKed Securities due Nov. 24, 2010 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable at maturity.
If Halliburton stock falls to or below 75% of its initial share price on any during the life of the notes, the payout at maturity will be a number of Halliburton shares equal to par of $10 divided by the initial share price or, at each holder's option, a cash amount equal to the value of those shares. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $2.55 million
|
| Maturity: | Nov. 24, 2010
|
| Coupon: | 16%, payable at maturity
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Halliburton stock falls to or below downside threshold price during life of notes, 0.38986 Halliburton shares or value thereof in cash; otherwise, par
|
| Initial share price: | $25.65
|
| Downside threshold price: | $19.2375, 75% of initial price
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17314V312
|
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