Published on 6/27/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.62 million trigger PLUS tied to iShares MSCI EM ETF
By Toni Weeks
San Diego, June 27 - Citigroup Funding Inc. priced $5.62 million of 0% trigger Performance Leveraged Upside Securities due June 27, 2013 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any increase in the fund, subject to a maximum payment of $12.80 per $10.00 principal amount.
Investors will receive par if the fund falls by up to 15% and will be fully exposed to losses if it declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying fund: | iShares MSCI Emerging Markets index fund
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Amount: | $5,615,000
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Maturity date: | June 27, 2013
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If fund return is positive, par plus double the increase in fund, subject to maximum return of 28%; par if fund has fallen by up to 15%; full exposure to losses if fund falls beyond 15%
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Initial price: | $45.50
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Trigger level: | $38.675, 85% of initial price
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Pricing date: | June 24
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Settlement date: | June 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.25%
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Cusip: | 17317U881
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