Published on 12/21/2005 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $27 million 8% Targets linked to Sprint Nextel
New York, Dec. 21 - Citigroup Funding Inc. priced $27 million of three-year 8% Targets (Targeted Growth Enhanced Terms Securities) linked to Sprint Nextel common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Targets Trust XXVI (Citigroup Funding Inc.)
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Issue: | Targets (Targeted Growth Enhanced Terms Securities)
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Underlying stock: | Sprint Nextel
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Amount: | $27 million
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Maturity: | Nov. 15, 2008
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Interest: | 8%, payable quarterly (short first coupon)
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Price: | Par of $10.00
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Payout at maturity: | Monthly returns of Sprint Nextel stock, capped at 4.5% appreciation per month and 10% depreciation per month
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Pricing date: | Dec. 19
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Settlement date: | Dec. 22
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Underwriter: | Citigroup
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Listing: | "TSR" on American Stock Exchange
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