By Susanna Moon
Chicago, June 26 - Citigroup Funding Inc. priced $6.05 million of zero-coupon principal-protected trust certificates due July 8, 2014 linked to the S&P 500 index through Safety First Trust Series 2009-3, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 105% of any index gain.
Investors will receive at least par.
Investors may exchange each $10 principal amount of trust certificates held for one equity index participation security with a $10 face amount and one equity index warrant with a $10 notional amount.
At maturity, each equity index participation security will pay a redemption amount equal to $10 plus 105% of any index gain or 100% of any index decline.
The equity index warrants will be automatically exercised at maturity. If the index gains or stays flat, the warrants will pay nothing. If the index falls, the warrants will pay $10 times the absolute value of the decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Safety First Trust Series 2009-3 for Citigroup Funding Inc.
|
| Issue: | Principal-protected trust certificates
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| Underlying index: | S&P 500
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| Amount: | $6.05 million
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| Maturity: | July 8, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Par plus 105% of any index gain; floor of par
|
| Exchange ratio: | One equity index participation security with a $10 face amount and one equity index warrant with a $10 notional amount per $10 trust certificate
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| Exchange redemption amount: | For each equity index participation security, $10 plus 105% of any index gain or 100% of any index loss; for each warrant, $10 times absolute value of return if index drops or zero if index gains
|
| Pricing date: | June 24
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| Settlement date: | June 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
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