Cleary Gottlieb represented Citigroup Global Markets as underwriter in Citigroup Funding’s $15.5 million offering of Principal-Protected Equity Linked Notes Based Upon the Russell 1000 Growth Index with Potential Supplemental Interest at Maturity Due March 2, 2009.
The notes are debt securities linked to an index. Unlike debt securities that pay a fixed amount at maturity, the notes’ maturity payment is based on the performance of the underlying index during their term, but cannot be less than their principal amount. The notes offer investors the opportunity to participate in the appreciation of the underlying index. The payments due under the notes are fully and unconditionally guaranteed by Citigroup Inc.
The Russell 1000 Growth Index measures the composite performance of stock companies within the Russell 1000 Index which have been determined by Russell to be growth oriented.