By Toni Weeks
San Diego, Sept. 20 - Citigroup Funding Inc. priced $13.4 million of callable notes with contingent coupon due Sept. 24, 2026 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is 7.25% per year multiplied by the proportion of days on which the index closes above 900. Previously, the coupon was expected to be 7% per year multiplied by the proportion of days on which the index closes above 900. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Sept. 24, 2013, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable notes with contingent coupon
|
| Underlying index: | S&P 500
|
| Amount: | $13,395,000
|
| Maturity: | Sept. 24, 2026
|
| Coupon: | 7.25% per year multiplied by the proportion of days on which the S&P 500 closes above 900; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial level:
|
| Call option: | At par on any interest payment date beginning Sept. 24, 2013
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0NV7
|
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