By Toni Weeks
San Diego, July 26 - Citigroup Funding Inc. priced $38 million of callable range accrual notes due July 27, 2026 linked to the Russell 2000 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8% for the first year. After that, it will accrue at 8% per year on each day that the Russell 2000 closes at or above 550 and Libor is 6.5% or less. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning April 29, 2012.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable range accrual notes
|
| Underlying components: | Russell 2000, Libor
|
| Amount: | $38 million
|
| Maturity: | July 27, 2026
|
| Coupon: | 8% for the first year; after that, 8% per year on each day that Russell 2000 closes at or above 550 and Libor is 6.5% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial level: | 841.82
|
| Call option: | At par on any interest payment date beginning April 29, 2012
|
| Pricing dates: | July 22
|
| Settlement date: | July 27
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0MV8
|
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