| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Citigroup plans to price Libor and S&P 500 range accrual notes
By Marisa Wong
Madison, Wis., Sept. 20 - Citigroup Funding Inc. plans to price Libor and S&P 500 index-linked range accrual notes due September 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 9% for the first year. Beginning in September 2011, the interest rate will be 9% per year multiplied by the proportion of days on which Libor is 6.5% or less and the S&P 500's closing level is at least 875. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date after one year.
The notes (Cusip: 17308CQL3) are expected to settle in September.
Citigroup Global Markets Inc. is the underwriter.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.