By E. Janene Geiss
Philadelphia, Oct. 25 - Citigroup Funding Inc. priced a $99.04 million issue of 11% Equity LinKed Securities (ELKS) due Nov. 6, 2008 linked to the common stock of Nucor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity is par unless Nucor stock falls by 27.50% or more during the life of the securities, in which case the payout will be a number of Nucor shares equal to $10.00 divided by the initial share price or, at the holder's option, the equivalent cash value.
The notes have been approved for listing on the American Stock Exchange under the symbol, "ENQ."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Nucor Corp. (NYSE: NUE)
|
| Amount: | $99.04 million
|
| Maturity: | Nov. 6, 2008
|
| Coupon: | 11%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par unless Nucor stock falls by 27.50% or more during the life of the notes, in which case the payout will be a number of Nucor shares equal to $10.00 divided by the initial share price or, at the holder's option, the equivalent cash value
|
| Initial share price: | $61.94
|
| Downside threshold price: | $44.91, 72.50% of the initial share price
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 26
|
| Listing: | "ENQ" on American Stock Exchange
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
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