By Angela McDaniels
Tacoma, Wash., July 26 - Citigroup Funding Inc. priced $5 million of floating-rate notes due Sept. 27, 2012 linked to the Dow Jones - UBS Commodity Total Return index, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is one-month Libor minus 25 basis points. Interest is payable monthly.
The payout at maturity will be par plus triple the sum of the index return minus the Treasury bill amount minus a fee of 0.2% per year. The Treasury bill amount is the hypothetical interest accrued on 13-week U.S. Treasury bills from the pricing date through the final valuation date.
The notes are putable at any time in whole, and they will be called if the index closes at or below 85% of its initial level. The payout will be calculated in the same way as at maturity, except the fee will be subject to a floor of 0.1%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones - UBS Commodity Total Return
|
| Amount: | $5 million
|
| Maturity: | Sept. 27, 2012
|
| Coupon: | One-month Libor minus 25 bps, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus the T-bill amount less a fee of 0.2% per year
|
| Put option: | At any time in whole
|
| Call: | Automatically if index closes at or below 85% of initial level
|
| Initial index level: | 330.8704
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 1730T0NE5
|
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