Published on 4/27/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $41.18 million 9% ELKS linked to Potash
New York, April 27 - Citigroup Funding Inc. priced $41.18 million of 9% Equity LinKed Securities due Oct. 26, 2011 linked to Potash Corp. of Saskatchewan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Potash shares fall below the protection price of $46.66, 80% of the initial price of $58.32, during the life of the notes and finish below the initial price in which case the payout will be 0.17147 shares of Potash stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Potash Corp. of Saskatchewan Inc. (Symbol: POT)
|
| Amount: | $41.18 million
|
| Maturity: | Oct. 26, 2011
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Potash shares fall below the protection price of $46.66, 80% of the initial price, and finish below the initial price, in which case 0.17147 shares of Potash stock
|
| Initial price: | $58.32
|
| Protection price: | $46.66, 80% of $58.32
|
| Exchange ratio: | 0.17147
|
| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17316G180
|
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