By Angela McDaniels
Tacoma, Wash., Jan. 26 - Citigroup Funding Inc. priced $4.32 million of 9% Equity LinKed Securities due July 21, 2010 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable at maturity.
If Apple stock falls to or below the downside threshold price - 80% of the initial share price - during the life of the notes, the payout at maturity will be a number of Apple shares equal to par of $10 divided by the initial share price or, at each holder's option, the value of those shares in cash. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
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Issue: | Equity LinKed Securities
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Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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Amount: | $4.32 million
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Maturity: | July 21, 2010
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Coupon: | 9%, payable at maturity
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Price: | Par of $10.00
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Payout at maturity: | If Apple stock falls to or below the downside threshold price during the life of the notes, 0.05061 Apple shares or the equivalent in cash; otherwise, par
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Initial share price: | $197.59
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Downside threshold price: | $158.072, 80% of initial price
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Pricing date: | Jan. 22
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Settlement date: | Jan. 27
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Agent: | Citigroup Global Markets Inc
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Fees: | 1%
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Cusip: | 17314V742
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