| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for Intel Corp. > News item |
Citigroup to price 10.5% to 11.5% ELKS linked to Intel
By E. Janene Geiss
Philadelphia, March 24 - Citigroup Funding Inc. plans to price an issue of Equity LinKed Securities (ELKS) linked to the common stock of Intel Corp., according to an FWP filing with the Securities and Exchange Commission.
The securities will mature in about one year. They are expected to pay between 10.5% and 11.5% per year. The exact coupon will be determined at pricing.
If the trading price of Intel stock stays above the trigger price - 75% of the initial share price - during the life of the notes, the payout at maturity will be par of $10.
Otherwise, the payout will be a number of Intel shares equal to par divided by the initial share price.
The issuer has applied to list the notes on the American Stock Exchange under the symbol "EHP."
The notes are expected to price in April and settle three days later.
Citigroup Global Markets Inc. will be the agent.
© 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.