By Angela McDaniels
Tacoma, Wash., Jan. 26 - Citigroup Funding Inc. priced $24.34 million of 8% Equity LinKed Securities due Feb. 4, 2010 linked to the common stock of Johnson & Johnson, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
If Johnson & Johnson stock declines by 25% or more during the life of the notes, then the payout at maturity will be a number of Johnson & Johnson shares equal to par of $10 divided by the initial share price or, at the holder's option, the value of those shares in cash. Otherwise, the payout will be par.
The ELKS have been approved for listing on NYSE Arca under the symbol "EJQ."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Johnson & Johnson (NYSE: JNJ)
|
| Amount: | $24.34 million
|
| Maturity: | Feb. 4, 2010
|
| Coupon: | 8%, payable semiannually
|
| Price: | Par of $10.00
|
| Payout at maturity: | If share price falls to or below trigger price during life of notes, 0.17867 Johnson & Johnson shares or equivalent value in cash; otherwise, par
|
| Initial share price: | $55.97
|
| Trigger price: | $41.98, 75% of initial share price
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | NYSE Arca: EJQ
|
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