Published on 1/25/2006 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $7.675 million 9% Elks exchangeable for Newmont Mining
By Jennifer Chiou
New York, Jan. 25 - Citigroup Funding Inc. priced $7.675 million of 9% Elks (equity-linked securities) due Feb. 8, 2007 linked to Newmont Mining Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
| Issuer: | Citigroup Funding Inc.
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| Issue: | Elks (equity-linked securities) medium-term notes
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| Underlying stock: | Newmont Mining Corp.
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| Amount: | $7.675 million
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| Maturity: | Feb. 8, 2007
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| Interest: | 9%
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| Price: | Par of $10.00
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| Payout at maturity: | Par in cash unless Newmont Mining trades below 77.5% of the initial price at any time in which case 0.17479 shares of Newmont Mining stock
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| Exchange price: | $57.21
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| Exchange ratio: | 0.17479
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| Trigger price: | $44.34, 77.5% of initial price of $57.21
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Underwriter: | Citigroup
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| Listing: | "EKM" on American Stock Exchange
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