By Susanna Moon
Chicago, Oct. 22 - Citigroup Funding, Inc. priced $15.67 million of Libor and S&P 500 index-linked range accrual notes due Oct. 25, 2025, according to an FWP with the Securities and Exchange Commission.
The coupon will be 8.5% for the first year. After that, the rate will be 8.5% for each day that Libor is 6.5% or less and the S&P 500's closing level is at least 875. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Oct. 25, 2011.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding, Inc.
|
| Issue: | Range accrual notes
|
| Underlying assets: | Libor and S&P 500
|
| Amount: | $15,665,000
|
| Maturity: | Oct. 25, 2025
|
| Coupon: | 8.5% for one year; then 8.5% for each day that Libor is 6.5% or less and S&P 500 closes at 875 or more; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0KM0
|
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