New Issue: Citigroup prices $20.7 million 6.5% Elks linked to Transocean

By Angela McDaniels

Seattle, April 11 - Citigroup Funding Inc. priced $20,652,500 of 6.5% Elks (equity-linked securities) due April 15, 2008 linked to Transocean Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.

Payout at maturity is one ordinary share of Transocean stock if the stock finishes at or below the cap price of $106.57. If the stock exceeds the cap price, payout will be $106.57 in cash.

Issuer:	Citigroup Funding Inc.
Issue:	Elks (equity-linked securities) medium-term notes
Underlying stock:	Transocean Inc.
Amount:	$20,652,500
Maturity:	April 15, 2008
Interest:	6.5%, payable monthly
Price:	Par of $82.61
Payout at maturity:	1 common share of Transocean stock if the stock finishes at or below the cap price; otherwise $106.57 in cash
Cap price:	$106.57 (129% of initial share price)
Pricing date:	April 7
Settlement date:	April 18
Agent:	Citigroup Global Markets Inc.

© 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.