By Angela McDaniels
Tacoma, Wash., Aug. 1 - Citigroup Funding Inc. priced $12.51 million of 0% lookback trigger Performance Leveraged Upside Securities due July 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level will be equal to the lowest closing level of the index on any scheduled trading day during the period from and including the pricing date to and including Oct. 1.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return of 21%.
If the final index level is less than the initial index level but greater than or equal to the trigger level, the payout will be par. The trigger level is 90% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Lookback trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $12,505,000
|
| Maturity: | July 30, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, subject to maximum return of 21%; par if index declines by 10% or less; full exposure to decline from initial level if index declines by more than 10%
|
| Initial index level: | Lowest closing level of index on any scheduled trading day from pricing date to and including Oct. 1
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17318Q699
|
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