Published on 6/22/2010 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.2 million 14.25% ELKS linked to Halliburton
New York, June 22 - Citigroup Funding Inc. priced $5.2 million of 14.25% Equity LinKed Securities due Dec. 27, 2010 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Halliburton shares fall below the protection price of $17.5825, 65% of the initial price of $27.05, during the life of the notes and finish below the initial price in which case the payout will be 0.36969 shares of Halliburton stock.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Funding Inc.
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Issue: | Equity LinKed Securities
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Underlying stock: | Halliburton Co. (Symbol: HAL)
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Amount: | $5.2 million
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Maturity: | Dec. 27, 2010
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Coupon: | 14.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Halliburton shares fall below the protection price of $17.5825, 65% of the initial price, and finish below the initial price, in which case 0.36969 shares of Halliburton stock
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Initial price: | $27.05
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Protection price: | $17.5825, 65% of $27.05
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Exchange ratio: | 0.36969
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Pricing date: | June 21
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Settlement date: | June 24
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.2%
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Cusip: | 17314V171
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