By Angela McDaniels
Tacoma, Wash., Dec. 19 - Citigroup Funding Inc. priced a $75.72 million issue of 9.75% Equity LinKed Securities (ELKS) due Jan. 8, 2009 linked to the common stock of Archer-Daniels-Midland Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par of $10 unless Archer-Daniels-Midland stock falls by 25% or more during the life of the securities, in which case the payout will be a number of Archer-Daniels-Midland shares equal to $10 divided by the initial share price or, at the holder's option, the equivalent cash value.
The securities have been approved for listing on the American Stock Exchange under the symbol "EYA."
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Archer-Daniels-Midland Co. (NYSE: ADM)
|
| Amount: | $75.72 million
|
| Maturity: | Jan. 8, 2009
|
| Coupon: | 9.75%, payable semiannually
|
| Price: | Par of $10
|
| Payout at maturity: | If Archer-Daniels-Midland stock falls to or below the trigger price during the life of the securities, 0.24888 of an Archer-Daniels-Midland share or, at the holder's option, the equivalent cash value; otherwise, par
|
| Initial share price: | $40.18
|
| Trigger price: | $30.14, 75% of the initial share price
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Listing: | Amex: EYA
|
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