| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Research In Motion Ltd. > News item |
Citigroup to price 13%-16% ELKS linked to Research In Motion
By Susanna Moon
Chicago, April 25 - Citigroup Funding Inc. plans to price one-year Equity LinKed Securities (ELKS) linked to the common stock of Research In Motion Ltd., according to an FWP filing with the Securities and Exchange Commission.
The notes will bear interest at 13% to 16% per year, with the exact coupon to be set at pricing. Interest will be payable semiannually.
The payout at maturity will be par of $10 unless Research In Motion stock falls by 25% or more during the life of the notes, in which case the payout will be a number of Research In Motion shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent amount in cash.
The notes will price in May and settle three days later.
Citigroup Global Markets Inc. will be the underwriter.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.