Citigroup to price callable Libor range accrual notes

By E. Janene Geiss

Philadelphia, July 13 - Citigroup Funding Inc. plans to price callable Libor range accrual notes due 2014, according to an FWP filing with the Securities and Exchange Commission.

Interest on the notes is variable and is based upon six-month Libor. For each day that six-month Libor is less than or equal to 7%, the notes will bear interest at between 6.75% and 7.25%. The exact percentage will be determined at pricing. On each calendar day that the six-month Libor is greater than 7%, no interest will accrue.

Interest, if applicable, will be payable quarterly.

The notes are callable in whole at par plus accrued interest on any interest payment date beginning in January 2008.

If the notes are not called, the payout at maturity will be par plus accrued interest.

The notes are expected to price and settle in July.

Citigroup Global Markets Inc. will be the underwriter.

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