Published on 11/30/2004 in the Prospect News Convertibles Daily.
New Issue: Citigroup prices $52.5 million Pacers linked to JPMorgan
New York, Nov. 30 - Citigroup Global Markets Holdings Inc. priced $52.5 million of three-year Pacers (Premium mandatory Callable Equity-linked securities) based on JPMorgan Chase & Co. common stock, according to a 424B2 document filed with the Securities and Exchange Commission.
Issuer: | Citigroup Global Markets Holdings Inc.
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Issue: | Pacers (Premium mandatory Callable Equity-linked securities)
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Underlying stock: | JPMorgan Chase & Co.
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Amount: | $52.5 million
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Maturity: | Nov. 30, 2007
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | 0.26624 shares of JPMorgan common stock if JPMorgan stock closes at $26.29 (70% of initial price of $37.56) or below on any date, otherwise par in cash
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Exchange price: | $37.56 (closing price of JPMorgan stock on pricing date)
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Call: | Annually beginning Nov. 25, 2005 if JPMorgan stock is above initial price of $37.56 at $10.90 in 2005, $11.80 in 2006 and $12.70 in 2007 (equivalent to 9% return per year)
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Pricing date: | Nov. 23
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Settlement date: | Nov. 29
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Underwriter: | Citigroup
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Listing: | "CZP" on American Stock Exchange
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