By Andrea Heisinger
New York, July 30 - Citibank NA and Citigroup Funding Inc. sold $5 billion of bonds backed by the Federal Deposit Insurance Corp. in two tranches Thursday, an informed source said.
The $2.5 billion of 1.375% two-year notes sold by Citibank NA priced at 99.807 to yield 1.473% with a spread of Treasuries plus 26.3 basis points.
The $2.5 billion of 2.25% three-year notes sold by Citigroup Funding priced at 99.72 to yield 2.338% with a spread of 62.6 bps.
Both tranches are non-callable
Citigroup Global Markets was bookrunner.
The financial services parent company, Citigroup Inc., is based in New York City.
| Issuers: | Citibank NA, Citigroup Funding Inc. |
|
| Issue: | FDIC-backed notes
|
| Amount: | $5 billion
|
| Bookrunner: | Citigroup Global Markets
|
| Trade date: | July 30
|
| Settlement date: | Aug. 6
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Two-year notes
|
| Issuer: | Citibank NA
|
| Amount: | $2.5 billion
|
| Maturity: | Aug. 10, 2011
|
| Coupon: | 1.375%
|
| Price: | 99.807
|
| Yield: | 1.473%
|
| Spread: | Treasuries plus 26.3 bps
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Issuer: | Citigroup Funding Inc.
|
| Amount: | $2.5 billion
|
| Maturity: | Dec. 10, 2012
|
| Coupon: | 2.25%
|
| Price: | 99.72
|
| Yield: | 2.338%
|
| Spread: | Treasuries plus 62.6 bps
|
| Call: | Non-callable
|
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