By Jennifer Chiou
New York, July 17 - Citigroup Funding Inc. priced $22.5 million of 9% Equity LinKed Securities due July 17, 2009 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
For each $98.573 of ELKS, the payout at maturity will be a cash amount equal to one share of Schlumberger stock, capped at $123.857, 125.65% of the initial price of $98.573.
If the closing price of Schlumberger stock is less than the initial price, investors will share in any losses.
Citigroup Global Markets, Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Schlumberger Ltd. (NYSE: SLB)
|
| Amount: | $22,500,075.83
|
| Maturity: | July 17, 2009
|
| Coupon: | 9%, payable monthly
|
| Price: | Par of $98.573
|
| Payout at maturity: | Cash equal to one share of Schlumberger stock, capped at $123.857
|
| Initial share price: | $98.573
|
| Cap price: | $123.857, 125.65% of initial price
|
| Pricing date: | July 15
|
| Settlement date: | July 17
|
| Underwriter: | Citigroup Global Markets, Inc.
|
| Fees: | None
|
© 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.
