By Marisa Wong
Madison, Wis., Oct. 27 - Royal Bank of Scotland priced $14 million of callable fixed-rate step-up notes due Oct. 28, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first six years. After that, the rate will be 5% from Oct. 29, 2016 to Oct. 29, 2019 and then 7% from Oct. 29, 2019 until maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on any interest payment date beginning Oct. 29, 2011.
RBS Securities Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable fixed-rate step-up notes
|
| Amount: | $14 million
|
| Maturity: | Oct. 28, 2022
|
| Coupon: | 4% for the first six years; after that, 5% for years seven through nine and then 7% for years 10 through 12; payable semiannually
|
| Price: | Par of $1,000
|
| Call option: | At par on any interest payment date beginning Oct. 29, 2011
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Underwriter: | RBS Securities Inc.
|
| Fees: | 2.67%
|
| Cusip: | 78009KMZ2
|
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