Published on 3/28/2012 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.34 million market-linked notes tied to Russell 2000
By Marisa Wong
Madison, Wis., March 28 - Citigroup Funding Inc. priced $1.34 million of 0% market-linked notes due March 30, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level but less than or equal to the upside knock-out value, the payout at maturity will be par plus the index return. The upside knock-out value is 125% of the initial index level.
If the final index level is greater than the upside knock-out value, the payout will be par.
If the final index level is less than or equal to the initial index level, the payout will also be par.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
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Issue: | Market-linked notes
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Underlying index: | Russell 2000
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Amount: | $1,344,000
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Maturity: | March 30, 2016
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index finishes above initial level but at or below upside knock-out value, par plus index return; if index finishes above upside knock-out value, par; if index finishes at or below initial level, par
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Initial index level: | 846.13
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Upside knock-out value: | 1,057.663, 125% of initial index level
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Pricing date: | March 26
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Settlement date: | March 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 1730T0WK1
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