Published on 2/21/2006 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $17 million 9.05% Elks exchangeable for Outback Steakhouse
By Angela McDaniels
Seattle, Feb. 21 - Citigroup Funding Inc. priced $17,135,404 of 9.05% Elks (equity-linked securities) due Aug. 24, 2006 linked to Outback Steakhouse Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity is one share of Outback Steakhouse stock, capped at $45.617, or 110% of the initial stock price.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Elks (equity-linked securities) notes
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| Underlying stock: | Outback Steakhouse Inc.
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| Units: | 413,200
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| Amount: | $17,135,404
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| Maturity: | Feb. 8, 2007
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| Interest: | 9.05%, payable monthly
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| Price: | Par of $41.47
|
| Payout at maturity: | 1 share capped at $45.617, 110% of initial price.
|
| Initial stock price: | $41.47
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| Cap price: | $45.617, 110% of initial stock price
|
| Exchange ratio: | 1
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 24
|
| Agent: | Citigroup
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