Blue Jackets general manager Scott Howson announced the deal on Tuesday night.
The 26-year-old Letestu has one assist and two penalty minutes in 11 games with the Penguins this season. He had 14 goals and 13 assists and a plus-4 rating in 64 games with Pittsburgh last season and ranked fourth among NHL rookies in game-winning goals (three), seventh in power-play goals (four) and tied for 11th place in goals.
The Alberta native was signed by Pittsburgh on March 22, 2007, after he spent one season at Western Michigan.
That's today's game. That's one of the things you have to deal with when you're a championship team. Guys are going to earn more money based on their performance and what they've achieved, [and] deservedly so. [Saad] falls into that category.
— Blackhawks coach Joel Quenneville on Brandon Saad, who was traded by Chicago to the Columbus Blue Jackets this offseason