By Jennifer Chiou
New York, Nov. 12 - Citigroup Funding Inc. priced $13.1 million of 0% Upturn Notes due May 25, 2011 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus three times any fund gain, up to a maximum return of 47%.
Investors will be exposed to any losses.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Upturn Notes
|
| Underlying fund: | Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $13.1 million
|
| Maturity: | May 25, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any fund gain, capped at $1,470 per note; exposure to losses
|
| Initial fund price: | $49.71
|
| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 16
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
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