Published on 11/23/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $15.7 million of 13% ELKS linked to Schlumberger stock
By Susanna Moon
Chicago, Nov. 23 - Citigroup Funding Inc. priced $15.7 million of 13% annualized single observation Equity LinKed Securities due May 23, 2012 linked to Schlumberger NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 in cash unless Schlumberger shares fall below the protection price - 80% of the initial price - on the valuation date, in which case the payout will be a number of Schlumberger shares equal to $10 divided by the initial share price.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Schlumberger NV (NYSE: SLB)
|
| Amount: | $15.7 million
|
| Maturity: | May 23, 2012
|
| Coupon: | 13%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par in cash unless Schlumberger shares fall below the protection price on the valuation date of May 18, 2012, in which case 0.14503 Schlumberger shares
|
| Initial price: | $68.95
|
| Protection price: | $55.16, 80% of initial level
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17317U535
|
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