Published on 5/20/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.24 million of 9.5% ELKS linked to Yahoo! Stock
By Jennifer Chiou
New York, May 20 - Citigroup Funding Inc. priced $5.24 million of 9.5% annualized Equity LinKed Securities due Nov. 25, 2011 linked to Yahoo! Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Yahoo! shares fall below the protection price of $13.08, 80% of the initial price of $16.35, during the life of the notes and finish below the initial price in which case the payout will be 0.61162 shares of Yahoo! stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
|
| Amount: | $5,235,000
|
| Maturity: | Nov. 25, 2011
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Yahoo! shares fall below the protection price of $13.08, 80% of the initial price, and finish below the initial price, in which case 0.61162 shares of Yahoo! stock
|
| Initial price: | $16.35
|
| Protection price: | $13.08, 80% of $16.35
|
| Exchange ratio: | 0.61162
|
| Pricing date: | May 19
|
| Settlement date: | May 25
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17317U501
|
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