By Angela McDaniels
Tacoma, Wash., July 27 - Citigroup Funding Inc. priced $2.9 million of 0% fixed upside return notes due Aug. 5, 2010 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus a fixed upside return of 17%.
If the final share price is less than the initial price, the payout will be a number of fund shares equal to $10 divided by the initial share price or, at each holder's option, the value of those shares in cash.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Fixed upside return notes
|
| Underlying ETF: | iShares Russell 2000 index fund
|
| Amount: | $2.9 million
|
| Maturity: | Aug. 5, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to initial price, par plus 17%; otherwise, 0.18339 fund shares or the value of those shares in cash
|
| Initial share price: | $54.53
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
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