Citigroup plans 0% notes linked to 10-year, two-year EUR CMS rates

By Laura Lutz

Des Moines, April 16 - Citigroup Funding Inc. plans to price 0% notes due 2010 based on the 10-year and two-year EUR annual constant maturity swap (EUR CMS) rates, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be 95% of par plus a supplemental return.

The supplemental return will be equal to any amount by which the spread of the 10-year EUR CMS rate over the two-year EUR CMS rate exceeds 20 basis points, times a multiplies that will be about 24 to 26. The exact multiplier will be set at pricing.

Investors will receive at least 95% of par.

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.