Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Citigroup Funding Inc. > News item |
Citigroup plans issue of ELKS linked to Archer-Daniels-Midland
By Jennifer Chiou
New York, Oct. 30 - Citigroup Funding Inc. plans to price an issue of notes in the Equity LinKed Securities (ELKS) structure linked to the common stock of Archer-Daniels-Midland Co., according to an FWP filing with the Securities and Exchange Commission.
The one-year notes are expected to pay between 9% and 10%, payable semiannually. The exact coupon will be determined at pricing.
The payout at maturity will be par of $10.00 in cash unless Archer-Daniels-Midland stock trades below the trigger price - expected to be 80% of the initial share price - during the life of the notes, in which case the payout will be a number of Archer-Daniels-Midland shares equal to par of $10.00 divided by the initial share price.
Citigroup applied to list the securities under "EAM" on the American Stock Exchange.
Citigroup Global Markets Inc. will be the agent for the offering.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.