By E. Janene Geiss
Philadelphia, May 23 - Citigroup Funding Inc. priced $37.27 million of 14% Equity LinKed Securities (ELKS) due June 5, 2009 linked to the common stock of Research in Motion Ltd., according to a 424B filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the stock finishes below its initial level but stays at or above the trigger level - 65% of the initial level - during the life of the notes, the payout at maturity will be par of $10.
Otherwise, the payout will be the number of shares equal to par minus the initial share price, or 0.07663 shares of Research in Motion stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Research in Motion (Nasdaq: RIMM)
|
| Amount: | $37.27 million
|
| Maturity: | June 5, 2009
|
| Coupon: | 14%, payable quarterly
|
| Price: | Par of $10
|
| Payout at maturity: | Par if Research in Motion stock finishes below initial price but stays at or above trigger price during life of notes; otherwise, 0.07663 shares of Research in Motion stock
|
| Initial price: | $130.49
|
| Trigger price: | $84.82, 65% of initial price
|
| Equity ratio: | 0.07663
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%, including 2% for selling concessions
|
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