By Susanna Moon
Chicago, Aug. 26 - Citigroup Funding Inc. priced $2.84 million callable notes with contingent coupon due Aug. 30, 2025 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8% for the first year. After the first year, interest will accrue at an annual rate of 8% for each day that the S&P 500 closes above 82.5% of the initial level. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable on any interest payment date beginning Aug. 29, 2013.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.84 million
|
| Maturity: | Aug. 30, 2025
|
| Coupon: | 8% for one year; thereafter, annual rate of 8% for each day that S&P 500 closes above 82.5% of initial level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates after three years
|
| Initial index level: | 1,055.33
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17308CPY6
|
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