Published on 4/28/2008 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $25 million principal-protected notes linked to three currency baskets
By E. Janene Geiss
Philadelphia, April 28 - Citigroup Funding Inc. priced $25 million of zero-coupon principal-protected notes due April 29, 2010 linked to three baskets of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
Currency basket A will include equal weights of the Chinese yuan, Indian rupee, and Philippine peso and Singapore dollar.
Currency basket B will include equal weights of the Brazilian real, Canadian dollar, Mexican peso, Norwegian krone and Russian ruble.
Currency basket C will include equal weights of the Czech koruna, Polish zloty and Turkish lira.
The payout at maturity will be determined based upon the two best performances among the currency baskets against the U.S. dollar.
If the average of the two greatest basket returns is zero or negative, investors will receive par.
If the average of the two greatest basket returns is positive, investors will receive par plus the average return of the two baskets.
Citigroup Global Markets Inc. will be the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Notes
|
| Underlying basket: | Currency basket A: Equal weights of the Chinese yuan, Indian rupee, Philippine peso and Singapore dollar; | Currency basket B: Equal weights of the Brazilian real, Canadian dollar, Mexican peso, Norwegian krone and Russian ruble; Currency basket C: Equal weights of the Czech koruna, Polish zloty and Turkish lira
|
| Amount: | $25 million
|
| Maturity: | April 29, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Based on two best performances of baskets against the dollar; if average of two best baskets is zero or negative, par; if average of two best baskets is positive, par plus average return of two baskets
|
| Initial rates: | 1.6687 for real, 1.0173 for Canadian dollar, 6.9890 for Chinese yuan, 15.9351 for Czech koruna, 40.04 for rupee, 10.4620 for Mexican peso, 5.0476 for krone, 41.936 for Philippine peso, 2.1676 for zloty, 23.5196 for ruble, 1.3516 for Singapore dollar and 1.2982 for lira
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
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