Published on 6/28/2010 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.48 million 12% ELKS linked to Goldman Sachs
By Susanna Moon
Chicago, June 28 - Citigroup Funding Inc. priced $3.48 million of 12% annualized Equity LinKed Securities due Dec. 22, 2010 based on the performance of Goldman Sachs Group, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable at maturity.
If Goldman Sachs stock falls to or below 80% of its initial share price on any during the life of the notes, the payout at maturity will be a number of Goldman Sachs shares equal to par of $10 divided by the initial share price or, at each holder's option, a cash amount equal to the value of those shares. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Goldman Sachs Group, Inc. (NYSE: GS)
|
| Amount: | $3.48 million
|
| Maturity: | Dec. 22, 2010
|
| Coupon: | 12%, payable at maturity
|
| Price: | Par of $10.00
|
| Payout at maturity: | If stock falls to or below downside threshold price during life of notes, 0.07409 Goldman Sachs shares or value thereof in cash; otherwise, par
|
| Initial share price: | $134.98
|
| Downside threshold price: | $107.98, or 80% of initial price
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17314V247
|
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