Published on 7/21/2010 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8.55 million 14.875% ELKS linked to SanDisk
New York, July 21 - Citigroup Funding Inc. priced $8.554 million of 14.875% Equity LinKed Securities due Jan. 24, 2011 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SanDisk shares fall below the protection price of $25.07, 60% of the initial price of $41.79, during the life of the notes and finish below the initial price in which case the payout will be 0.23929 shares of SanDisk stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | SanDisk Corp. (Symbol: SNDK)
|
| Amount: | $8.554 million
|
| Maturity: | Jan. 24, 2011
|
| Coupon: | 14.875%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless SanDisk shares fall below the protection price of $25.07, 60% of the initial price, and finish below the initial price, in which case 0.23929 shares of SanDisk stock
|
| Initial price: | $41.79
|
| Protection price: | $25.07, 60% of $41.79
|
| Exchange ratio: | 0.23929
|
| Pricing date: | July 19
|
| Settlement date: | July 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G206
|
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