Published on 5/26/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $87.63 million 7.5% ELKS linked to Schlumberger
New York, May 26 - Citigroup Funding Inc. priced $87.63 million of 7.5% Equity LinKed Securities due Nov. 23, 2011 linked to Schlumberger N.V. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Schlumberger shares fall below the protection price of $66.62, 80% of the initial price of $83.28, during the life of the notes and finish below the initial price in which case the payout will be 0.12008 shares of Schlumberger stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Schlumberger N.V. (Symbol: SLB)
|
| Amount: | $87.63 million
|
| Maturity: | Nov. 23, 2011
|
| Coupon: | 7.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Schlumberger shares fall below the protection price of $66.62, 80% of the initial price, and finish below the initial price, in which case 0.12008 shares of Schlumberger stock
|
| Initial price: | $83.28
|
| Protection price: | $66.62, 80% of $83.28
|
| Exchange ratio: | 0.12008
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G123
|
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