By Susanna Moon
Chicago, Feb. 28 - Citigroup Funding Inc. priced $3 million of callable Libor and Russell 2000 index-linked range accrual notes due March 1, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 9% for each day that Libor is 6% or less and the index closes at or above 70% of its initial level. Interest is payable quarterly.
The notes are callable at par on any quarterly interest payment date after two years.
The payout at maturity will be par unless the index finishes below the 60% trigger level, in which case investors will be fully exposed to any loses.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable Libor and Russell 2000 index-linked range accrual notes
|
| Amount: | $3 million
|
| Maturity: | March 1, 2023
|
| Coupon: | 9% for each day that Libor is 6% or less and the index closes at or above accrual barrier level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning March 1, 2015
|
| Initial level: | 916.16
|
| Accrual barrier level: | 641.312, 70% of initial level
|
| Trigger level: | 549.696, 60% of initial level
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 1
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 1730T0RZ4
|
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