By Marisa Wong
Madison, Wis., Jan. 24 - Citigroup Funding Inc. priced $4 million of callable Libor and S&P 500 index-linked range accrual notes due Jan. 25, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.75% per year for each day that Libor is 6% or less and the index closes at or above 75% of its initial level. Interest is payable quarterly.
The notes are callable at par plus accrued interest, if any, on any quarterly interest payment date beginning on Jan. 25, 2015.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable Libor and S&P 500 index-linked range accrual notes
|
| Amount: | $4 million
|
| Maturity: | Jan. 25, 2028
|
| Coupon: | 5.75% per year multiplied by proportion of days on which index is at or above trigger level and Libor is 6% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Jan. 25, 2015
|
| Initial index level: | 1,492.56
|
| Trigger level: | 1,119.42, 75% of initial level
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 25
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0RA9
|
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